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

Shares of Sysco Co. (NYSE:SYY) have earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $84.90.

Several analysts recently issued reports on SYY shares. Piper Sandler lowered their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Truist Financial lowered their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft lowered their price target on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. lowered their price target on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd.

Sysco Trading Down 0.2 %

Shares of SYY opened at $74.45 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The firm has a market capitalization of $37.07 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 2.14 and a beta of 1.17. The stock’s fifty day simple moving average is $74.17 and its 200 day simple moving average is $76.46. Sysco has a twelve month low of $62.24 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The business had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. On average, equities research analysts forecast that Sysco will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Institutional Trading of Sysco

Several large investors have recently modified their holdings of the business. First United Bank & Trust acquired a new position in Sysco in the fourth quarter worth about $26,000. AdvisorNet Financial Inc grew its stake in Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares in the last quarter. OFI Invest Asset Management acquired a new position in Sysco in the first quarter worth about $31,000. Burkett Financial Services LLC acquired a new position in Sysco in the fourth quarter worth about $30,000. Finally, Headlands Technologies LLC acquired a new position in Sysco in the fourth quarter worth about $34,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

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.