Brokerages Set Sysco Co. (NYSE:SYY) Target Price at $85.77

Sysco Co. (NYSE:SYY) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $85.77.

Several research analysts have weighed in on the stock. Barclays upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group raised their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

Hedge funds and other institutional investors have recently bought and sold shares of the business. TruNorth Capital Management LLC acquired a new stake in shares of Sysco in the second quarter valued at $25,000. Armstrong Advisory Group Inc. increased its position in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Sysco during the third quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the third quarter valued at approximately $31,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of Sysco in the third quarter valued at approximately $37,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

SYY opened at $75.79 on Friday. The firm has a market capitalization of $37.23 billion, a P/E ratio of 19.48, a PEG ratio of 1.97 and a beta of 1.20. The stock has a fifty day moving average of $75.69 and a 200-day moving average of $74.74. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco has a 12-month low of $69.03 and a 12-month high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 earnings per share. Equities analysts forecast that Sysco will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is 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.