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

Shares of Sysco Co. (NYSE:SYY) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $86.08.

Several brokerages have recently weighed in on SYY. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley cut 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. Bank of America decreased their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, Barclays increased their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st.

Sysco Stock Down 0.3 %

Sysco stock opened at $74.37 on Tuesday. The stock has a 50 day moving average of $76.51 and a two-hundred day moving average of $74.82. Sysco has a twelve month low of $64.28 and a twelve month high of $82.89. The stock has a market capitalization of $36.53 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.95 and a beta of 1.20. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

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, research analysts expect that Sysco will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Plimoth Trust Co. LLC increased its holdings in Sysco by 0.6% during the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after acquiring an additional 139 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Sysco by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock worth $679,000 after purchasing an additional 141 shares in the last quarter. Koshinski Asset Management Inc. raised its position in shares of Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares during the last quarter. NorthRock Partners LLC lifted its stake in Sysco by 3.7% in the 1st quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock valued at $335,000 after buying an additional 147 shares in the last quarter. Finally, Winthrop Advisory Group LLC grew its holdings in Sysco by 3.7% during the 1st quarter. Winthrop Advisory Group LLC now owns 4,120 shares of the company’s stock valued at $334,000 after buying an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

About Sysco

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.