The price of Sysco Corp. (NYSE:SYY) shares last traded on Wall Street rose 2.01% to $66.52.
Based on available information, 18 analysts follow Sysco Corp. (NYSE:SYY). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $92.00 and a low of $79.00, we find $85.50. Given the previous closing price of $65.21, this indicates a potential upside of 31.11 percent. SYY stock price is now -7.14% away from the 50-day moving average and -10.84% away from the 200-day moving average. The market capitalization of the company currently stands at $33.59B.
Among analysts, 8 rate the stock a hold while 8 rate it a buy. Brokers who have rated the stock have averaged $85.43 as their price target over the next twelve months.
In other news, Russell Neil, SVP, Corp. Affairs and CAO sold 219 shares of the company’s stock on Sep 01. The stock was sold for $15,304 at an average price of $69.88. Upon completion of the transaction, the SVP, Corp. Affairs and CAO now directly owns 25,154 shares in the company, valued at $1.67 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 02, Director Talton Sheila sold 2,469 shares of the business’s stock. A total of $190,696 was realized by selling the stock at an average price of $77.24. This leaves the insider owning 11,877 shares of the company worth $0.79 million. Insiders disposed of 92,298 shares of company stock worth roughly $6.14 million over the past 1 year. A total of 0.24% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SYY stock. A new stake in Sysco Corp. shares was purchased by HOLOCENE ADVISORS, LP during the first quarter worth $96,348,000. CEREDEX VALUE ADVISORS LLC invested $39,205,000 in shares of SYY during the first quarter. In the first quarter, WORLDQUANT MILLENNIUM ADVISORS LLC acquired a new stake in Sysco Corp. valued at approximately $13,150,000. MANNING & NAPIER GROUP, LLC acquired a new stake in SYY for approximately $9,821,000. WEISS MULTI-STRATEGY ADVISERS LLC purchased a new stake in SYY valued at around $9,343,000 in the second quarter.
A candlestick chart of Sysco Corp. (NYSE: SYY) showed a price of $65.44 on Thursday morning. During the past 12 months, Sysco Corp. has had a low of $64.82 and a high of $87.41. As of last week, the company has a debt-to-equity ratio of 5.56, a current ratio of 1.24, and a quick ratio of 0.72. According to the stock market information, the enterprise value for the company is $44.01B, which is based on a 19.15 price-to-earnings ratio, a 1.53 price-to-earnings-growth ratio, and a beta of 1.11. The fifty day moving average price for SYY is $71.64 and a two-hundred day moving average price translates $74.60 for the stock.
The latest earnings results from Sysco Corp. (NYSE: SYY) was released for Jun, 2023. According to the Food Distribution Company, earnings per share came in at $1.34, beating analysts’ expectations of $1.33 by 0.01. This compares to $0.99 EPS in the same period last year. The net profit margin was 2.32% and return on equity was 104.40% for SYY. The company reported revenue of $19.73 billion for the quarter, compared to $18.96 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.07 percent. For the current quarter, analysts expect SYY to generate $19.78B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/28/2023. Investors who held shares on 07/07/2023 were paid a $0.50 dividend. On an annualized basis, this represents a $2.07 dividend and a 3.11% percent yield. There was an ex-dividend date of 07/06/2023 for this dividend. In terms of dividend payout ratio, SYY is presently at 56.73%.
Sysco Corp.(SYY) Company Profile
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments. The company distributes frozen food, such as meat, seafood, fully prepared entrées, fruits, vegetables, and desserts; canned and dry food products; fresh meat and seafood products; dairy products; beverages; imported specialties; and fresh produce products. It also supplies various non-food items, including paper products comprising disposable napkins, plates, and cups; tableware consisting of glassware and silverware; cookware, such as pots, pans, and utensils; restaurant and kitchen equipment and supplies; and cleaning supplies. The company serves restaurants, hospitals and nursing facilities, schools and colleges, hotels and motels, industrial caterers, and other foodservice venues. Sysco Corporation was incorporated in 1969 and is headquartered in Houston, Texas.
