Sysco Co. (NYSE:SYY) Receives $85.11 Average Target Price from Brokerages

Shares of Sysco Co. (NYSE:SYYGet Free Report) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $85.10.

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday. UBS Group dropped their price objective on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets lowered their price target on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Finally, Truist Financial lowered their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, May 2nd.

View Our Latest Stock Report on SYY

Sysco Stock Performance

Shares of NYSE SYY opened at $71.47 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. Sysco has a 12 month low of $62.24 and a 12 month high of $82.89. The stock has a 50 day moving average of $76.57 and a 200-day moving average of $76.32. The company has a market capitalization of $35.59 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.03 and a beta of 1.16.

Sysco (NYSE:SYYGet Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the previous year, the company posted $0.90 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Sysco will post 4.3 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is 48.78%.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Sysco

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors bought a new position in Sysco in the fourth quarter worth approximately $683,599,000. Norges Bank bought a new position in Sysco in the fourth quarter worth approximately $450,794,000. Capital Research Global Investors boosted its holdings in Sysco by 112.8% in the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares in the last quarter. Swedbank AB bought a new position in Sysco in the first quarter worth approximately $178,824,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Sysco by 132.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after purchasing an additional 2,084,501 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Sysco (NYSE:SYY)

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