Analysts Set Sysco Co. (NYSE:SYY) PT at $85.10

Shares of Sysco Co. (NYSE:SYY) have been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the firm, Marketbeat.com 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 objective among analysts that have issued a report on the stock in the last year is $85.10.

A number of analysts recently commented on the company. Piper Sandler decreased their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Barclays cut their price objective on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. JPMorgan Chase & Co. cut 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. Morgan Stanley decreased their price objective on Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd.

Sysco Trading Up 0.8 %

NYSE:SYY opened at $73.35 on Wednesday. Sysco has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. The stock has a fifty day simple moving average of $74.22 and a 200-day simple moving average of $76.40. The company has a market capitalization of $36.53 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.08 and a beta of 1.17.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating 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 net margin of 2.66% and a return on equity of 99.88%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 earnings per share. On average, equities research analysts expect that Sysco will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.78%. Sysco’s dividend payout ratio (DPR) is 48.78%.

Institutional Investors Weigh In On Sysco

Large investors have recently added to or reduced their stakes in the company. HM Payson & Co. lifted its stake in shares of Sysco by 12.4% in the first quarter. HM Payson & Co. now owns 20,130 shares of the company’s stock worth $1,634,000 after acquiring an additional 2,225 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Sysco by 23.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,252 shares of the company’s stock worth $167,000 after purchasing an additional 428 shares during the last quarter. Cetera Advisors LLC lifted its position in shares of Sysco by 177.6% during the first quarter. Cetera Advisors LLC now owns 73,682 shares of the company’s stock worth $5,982,000 after purchasing an additional 47,142 shares during the last quarter. Cetera Investment Advisers grew its stake in Sysco by 163.4% in the first quarter. Cetera Investment Advisers now owns 285,012 shares of the company’s stock worth $23,137,000 after purchasing an additional 176,791 shares in the last quarter. Finally, Burney Co. lifted its holdings in Sysco by 16.5% during the 1st quarter. Burney Co. now owns 22,922 shares of the company’s stock worth $1,861,000 after buying an additional 3,253 shares during the last quarter. 83.41% of the stock is 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.