Brokerages Set Sysco Co. (NYSE:SYY) PT at $86.08

Sysco Co. (NYSE:SYY) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $86.08.

Several research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Truist Financial decreased their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Bank of America cut their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th.

Institutional Investors Weigh In On Sysco

Several hedge funds have recently made changes to their positions in SYY. ORG Partners LLC increased its stake in Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after buying an additional 6,855 shares during the period. Bridgefront Capital LLC acquired a new position in shares of Sysco during the 4th quarter worth $841,000. Nebula Research & Development LLC acquired a new position in shares of Sysco during the 4th quarter worth $916,000. Mizuho Markets Americas LLC increased its stake in shares of Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in shares of Sysco by 11.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after purchasing an additional 18,296 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

NYSE SYY opened at $76.12 on Friday. Sysco has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The stock has a market cap of $37.41 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. The company has a 50-day moving average price of $76.60 and a two-hundred day moving average price of $75.39.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.34 earnings per share. Analysts forecast that Sysco will post 4.6 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.68%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

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.