Sysco Co. (NYSE:SYY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Sysco Co. (NYSE:SYY) have earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $84.77.

A number of equities research analysts have recently commented on the stock. Barclays cut their price target 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 upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Melius began coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Truist Financial lowered their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th.

Sysco Trading Up 1.1 %

NYSE:SYY opened at $75.53 on Monday. The company’s 50 day moving average price is $73.66 and its 200-day moving average price is $75.65. Sysco has a 52 week low of $69.03 and a 52 week high of $82.33. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The stock has a market cap of $36.95 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates 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 previous year, the business earned $0.89 EPS. On average, equities research analysts forecast that Sysco will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.70%. Sysco’s payout ratio is presently 52.44%.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the sale, the executive vice president now owns 60,581 shares in the company, valued at $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock worth $5,965,519 in the last three months. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Sysco

Several institutional investors have recently bought and sold shares of SYY. Ashton Thomas Securities LLC purchased a new position in Sysco during the third quarter valued at $26,000. Parvin Asset Management LLC purchased a new position in Sysco during the fourth quarter valued at $29,000. Valley Wealth Managers Inc. purchased a new position in Sysco during the third quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new position in Sysco during the fourth quarter valued at $31,000. Finally, Sherman Asset Management Inc. purchased a new position in Sysco during the fourth quarter valued at $31,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

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.