Sysco Co. (NYSE:SYY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Sysco Co. (NYSE:SYY) have been given an average recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $84.77.

A number of equities analysts recently commented on SYY shares. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. UBS Group lowered their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Barclays lowered their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Truist Financial lowered their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th.

Sysco Price Performance

SYY stock opened at $71.12 on Friday. Sysco has a 12 month low of $69.03 and a 12 month high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The company has a 50-day moving average price of $73.15 and a 200 day moving average price of $75.41. The stock has a market cap of $34.79 billion, a PE ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 firm posted $0.89 earnings per share. Equities research analysts anticipate that Sysco will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. Sysco’s dividend payout ratio is currently 52.44%.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Sysco by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock worth $4,703,775,000 after acquiring an additional 429,711 shares in the last quarter. State Street Corp grew its position in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares during the last quarter. Invesco Ltd. grew its position in Sysco by 5.3% during the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company’s stock worth $1,292,751,000 after purchasing an additional 851,441 shares during the last quarter. Boston Partners grew its position in Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after purchasing an additional 7,184,754 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Sysco by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock worth $905,120,000 after purchasing an additional 233,885 shares during the last quarter. 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.