Sysco Co. (NYSE:SYY) Receives $85.27 Consensus Price Target from Brokerages

Shares of Sysco Co. (NYSE:SYY) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $85.27.

SYY has been the subject of a number of recent research reports. Bank of America lowered their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday. BMO Capital Markets decreased their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Finally, Truist Financial cut their price target 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.

Sysco Stock Up 0.6 %

Shares of Sysco stock opened at $78.74 on Monday. Sysco has a 1 year low of $62.24 and a 1 year high of $82.89. The firm has a market cap of $38.70 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.03 and a beta of 1.20. The company has a 50-day moving average of $74.34 and a 200 day moving average of $75.82. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69.

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

Sysco Dividend Announcement

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 given a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.59%. Sysco’s dividend payout ratio (DPR) is 49.76%.

Hedge Funds Weigh In On Sysco

Several hedge funds and other institutional investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its stake in shares of Sysco by 1.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after purchasing an additional 124 shares during the period. Bell Investment Advisors Inc raised its position in Sysco by 8.2% in the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after acquiring an additional 131 shares during the period. Beacon Investment Advisors LLC raised its position in Sysco by 0.5% in the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock worth $1,805,000 after acquiring an additional 133 shares during the period. Plimoth Trust Co. LLC boosted its stake in shares of Sysco by 0.6% during the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after acquiring an additional 139 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of Sysco by 39.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 141 shares during the period. 83.41% of the stock is owned by institutional investors.

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.