Sysco Co. (NYSE:SYY) Receives $85.27 Average Target Price from Brokerages

Sysco Co. (NYSE:SYY) has received an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $85.27.

SYY has been the topic of a number of recent research reports. Barclays raised their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Morgan Stanley lowered their price target 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. BMO Capital Markets lowered their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Bank of America decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Friday.

Sysco Stock Performance

NYSE SYY opened at $75.24 on Thursday. The firm has a 50-day moving average of $72.81 and a 200-day moving average of $76.10. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The stock has a market cap of $37.47 billion, a PE ratio of 18.35, a P/E/G ratio of 1.96 and a beta of 1.18. Sysco has a 52-week low of $62.24 and a 52-week high of $82.89.

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. On average, sell-side analysts anticipate that Sysco will post 4.6 EPS for the current year.

Institutional Investors Weigh In On Sysco

Several hedge funds have recently modified their holdings of the company. Capital World Investors raised its position in Sysco by 17.5% in the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after purchasing an additional 1,637,232 shares during the last quarter. Capital Research Global Investors raised its holdings in Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after buying an additional 3,504,740 shares during the last quarter. Norges Bank acquired a new stake in Sysco during the 4th quarter worth approximately $450,794,000. Diamond Hill Capital Management Inc. grew its holdings in Sysco by 49.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after acquiring an additional 1,997,895 shares during the last quarter. Finally, Primecap Management Co. CA increased its position in Sysco by 37.5% in the 2nd quarter. Primecap Management Co. CA now owns 4,373,485 shares of the company’s stock valued at $312,223,000 after acquiring an additional 1,192,650 shares during the period. Institutional investors and hedge funds 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.