Analysts Set Sysco Co. (NYSE:SYY) PT at $85.27

Sysco Co. (NYSE:SYY) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $85.27.

SYY has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 28th. Barclays raised their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial reduced their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Finally, Morgan Stanley cut their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th.

Sysco Price Performance

NYSE:SYY opened at $78.58 on Monday. Sysco has a 52 week low of $62.24 and a 52 week high of $82.89. The firm has a market cap of $38.62 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 2.05 and a beta of 1.20. The firm’s 50-day simple moving average is $74.61 and its 200 day simple moving average is $75.79. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same period last year, the firm earned $1.34 earnings per share. Sysco’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Sysco will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.60%. Sysco’s dividend payout ratio is currently 49.76%.

Institutional Trading of Sysco

Hedge funds have recently modified their holdings of the stock. Capital World Investors bought a new stake in Sysco during the 4th quarter valued at $683,599,000. Norges Bank bought a new stake in Sysco during the 4th quarter valued at $450,794,000. Capital Research Global Investors increased its stake in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC increased its stake in Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares in the last quarter. Finally, Swedbank AB bought a new stake in Sysco during the 1st quarter valued at $178,824,000. Institutional investors own 83.41% of the company’s stock.

Sysco 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.