Sysco Co. (NYSE:SYY) Receives $84.77 Consensus Target Price from Brokerages

Sysco Co. (NYSE:SYY) has received a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $84.77.

SYY has been the topic of several research reports. Morgan Stanley cut their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. UBS Group cut their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Sysco Stock Performance

Sysco stock opened at $71.12 on Friday. The company has a 50 day moving average price of $73.10 and a 200-day moving average price of $75.32. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The company has a market capitalization of $34.79 billion, a PE ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, equities analysts forecast that Sysco will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th 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 2.87%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parvin Asset Management LLC acquired a new position in Sysco during the fourth quarter valued at $29,000. Stonebridge Financial Group LLC acquired a new position in Sysco during the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC acquired a new position in Sysco during the fourth quarter valued at $31,000. Sherman Asset Management Inc. acquired a new position in Sysco during the fourth quarter valued at $31,000. Finally, SRS Capital Advisors Inc. lifted its position in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

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.