Sysco (NYSE:SYY) Given New $92.00 Price Target at Jefferies Financial Group

Sysco (NYSE:SYY) had its price objective increased by Jefferies Financial Group from $91.00 to $92.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley decreased their target price on Sysco from $82.00 to $81.00 and set an equal weight rating for the company in a research note on Tuesday, July 16th. Guggenheim upgraded Sysco from a neutral rating to a buy rating and set a $85.00 price objective for the company in a research report on Tuesday, May 28th. Truist Financial dropped their target price on shares of Sysco from $87.00 to $85.00 and set a buy rating on the stock in a report on Monday, June 24th. StockNews.com cut shares of Sysco from a strong-buy rating to a buy rating in a report on Tuesday. Finally, Barclays raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $86.08.

Sysco Price Performance

Shares of SYY opened at $77.65 on Wednesday. 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 $38.17 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 1.99 and a beta of 1.20. The stock’s 50-day moving average price is $76.13 and its two-hundred day moving average price is $75.49. Sysco has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm 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 for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. On average, equities analysts predict that Sysco will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The business 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 dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.63%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Capital World Investors grew its stake in shares of 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 buying an additional 1,637,232 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of 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 purchasing an additional 3,504,740 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after purchasing an additional 1,997,895 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after purchasing an additional 2,408,226 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.