Sysco Co. (NYSE:SYY) Receives $86.08 Average PT from Analysts

Shares of Sysco Co. (NYSE:SYY) have received a consensus rating of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $86.08.

Several research firms have weighed in on SYY. Morgan Stanley cut their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Barclays boosted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Finally, Bank of America reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th.

Hedge Funds Weigh In On Sysco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC raised its stake in Sysco by 3,159.0% in the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares in the last quarter. Mizuho Markets Americas LLC raised its position in shares of Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after buying an additional 70,660 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Sysco by 11.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after acquiring an additional 18,296 shares during the period. Diversify Advisory Services LLC bought a new position in Sysco in the first quarter valued at approximately $1,677,000. Finally, Shell Asset Management Co. raised its position in Sysco by 205.0% during the first quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after purchasing an additional 9,615 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

SYY stock opened at $73.92 on Tuesday. The company has a 50 day moving average price of $76.42 and a 200 day moving average price of $74.80. Sysco has a fifty-two week low of $64.28 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The stock has a market capitalization of $36.31 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20.

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

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio is currently 52.44%.

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.