Sysco Co. (NYSE:SYY) Receives $84.38 Consensus Target Price from Brokerages

Shares of Sysco Co. (NYSE:SYY) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $84.77.

A number of research firms recently commented on SYY. Truist Financial dropped their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Morgan Stanley dropped their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group dropped their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the sale, the executive vice president now owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,370 shares of company stock worth $5,965,519. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sysco

Large investors have recently modified their holdings of the business. Park Square Financial Group LLC purchased a new position in shares of Sysco in the 4th quarter worth approximately $94,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Sysco in the 4th quarter worth approximately $30,993,000. Capital A Wealth Management LLC purchased a new position in shares of Sysco in the 4th quarter worth approximately $34,000. Liberty Square Wealth Partners LLC purchased a new position in shares of Sysco in the 4th quarter worth approximately $525,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Sysco in the 4th quarter worth approximately $35,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE:SYY opened at $75.53 on Monday. Sysco has a 52 week low of $69.03 and a 52 week high of $82.33. The stock has a market capitalization of $36.95 billion, a P/E ratio of 19.42, a PEG ratio of 1.88 and a beta of 1.17. The firm has a fifty day simple moving average of $73.66 and a two-hundred day simple moving average of $75.65. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the company posted $0.89 earnings per share. On average, analysts expect that Sysco will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.70%. Sysco’s dividend payout ratio is currently 52.44%.

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.