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

Shares of Sysco Co. (NYSE:SYY) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $86.08.

A number of brokerages have weighed in on SYY. Morgan Stanley lowered their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Truist Financial decreased their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Barclays increased their price target 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 downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, Bank of America dropped their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th.

Hedge Funds Weigh In On Sysco

A number of institutional investors have recently modified their holdings of SYY. ORG Partners LLC increased its stake in shares of Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after acquiring an additional 6,855 shares during the last quarter. Bridgefront Capital LLC acquired a new position in shares of Sysco in the 4th quarter valued at $841,000. Nebula Research & Development LLC purchased a new stake in shares of Sysco during the 4th quarter valued at $916,000. Mizuho Markets Americas LLC increased its holdings 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 buying an additional 70,660 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of Sysco by 11.6% in 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 buying an additional 18,296 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $77.66 on Friday. Sysco has a 52-week low of $62.24 and a 52-week high of $82.89. The stock’s 50-day moving average price is $76.21 and its 200 day moving average price is $75.41. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The stock has a market capitalization of $38.17 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.99 and a beta of 1.20.

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

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is currently 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.