Sysco Corporation (NYSE:SYY).
Norges Bank reports that it raised its investment in Sysco Corporation stock by 179 shares as of the end of the last quarter. Its position was worth $248,726,000 an increase of $19,665,000 as of the end of the quarter.
Norges Bank isn’t the only one who has changed their investment in SYY. Eagle Asset Management Inc divested its position by shedding 6,794 shares a decrease of 1.7%. Eagle Asset Management Inc now holds 393,597 shares worth $19,809,000. The total value of its holdings decreased 4.7%. Chicago Equity Partners LLC cut its investment by shedding 22,770 shares a decrease of 11.5% from 03/31/2017 to 06/30/2017. Chicago Equity Partners LLC claims 175,830 shares with a value of $8,850,000. The value of the position overall is down by 14.2%.
Evanston Investments, Inc., Dba Evanston Advisors added to its stake by buying 2,064 shares an increase of 1.4% as of 06/30/2017. Evanston Investments, Inc., Dba Evanston Advisors now controls 146,795 shares with a value of $7,388,000. The total value of its holdings decreased 1.7%.
On May 16, 2017 Loop Capital started covering SYY with an initial rating of “Buy”. On November 16 the company was downgraded to “Neutral” from “Outperform” with a current price target of $55.00 in a statement from Credit Suisse.
On November 16, 2016 Credit Suisse kept the price objective at $55.00 but cut the company from Outperform to Neutral. On November 9 the company was upgraded to “Equal-Weight” from “Underweight” and a price target of $53.00 was set in a report issued by Barclays.
Barclays raised the price target and upgraded the stock on November 9 changing the price objective from $48.00 to $53.00 and raising the rating from “Underweight” to “Equal-Weight”. On November 8 the company was changed to a “Buy” according to a Bank of America report which is up from the previous “Neutral” rating.
The company is down since yesterday’s close of $52.08. Additionally the company recently declared a dividend for shareholders that will be paid on Friday the 27th of October 2017. The dividend will be $0.330 per share for the quarter or $1.32 on an annualized basis. This dividend represents a yeild of $2.52 which is the dividend as a percentage of the current share price. The ex-dividend date will be on Wednesday the 5th of July 2017.
The stock is trading at $51.46 marginally over the 50 day moving average of $51.23 and a bit lower than the 200 day moving average of $52.70. The 50 day moving average was up $0.33 and the 200 day average moved down $-1.14.
Sysco Corporation currently has a P/E ratio of 27.18 and the market cap is 27.59B. As of the last earnings report the EPS was $1.90 and is projected to be $2.47 for the current year with 535,197,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.72 with next year’s EPS projected to be $2.75.