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

Sysco Co. (NYSE:SYY) has received a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $86.08.

A number of equities research analysts have recently issued reports on the stock. Bank of America lowered their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Morgan Stanley reduced their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Truist Financial lowered their price target on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Finally, Jefferies Financial Group lifted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday.

Sysco Stock Up 1.6 %

Sysco stock opened at $77.96 on Friday. The firm has a 50 day simple moving average of $76.06 and a 200 day simple moving average of $75.48. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. Sysco has a 1-year low of $62.24 and a 1-year high of $82.89. The firm has a market capitalization of $38.82 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.98 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same period in the previous year, the company posted $1.34 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts predict that Sysco will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is currently 49.76%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Capital World Investors bought a new position in shares of Sysco during the 4th quarter valued at $683,599,000. Capital Research Global Investors boosted its position in Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after buying an additional 3,504,740 shares during the period. ProShare Advisors LLC grew its stake in shares of Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after buying an additional 2,408,226 shares during the last quarter. Swedbank AB purchased a new position in shares of Sysco in the first quarter worth about $178,824,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Sysco by 132.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after acquiring an additional 2,084,501 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other 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.