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

Shares of Sysco Co. (NYSE:SYY) have earned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat reports. Two investment 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 updated their coverage on the stock in the last year is $86.08.

Several research firms recently weighed in on SYY. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Truist Financial cut their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. JPMorgan Chase & Co. upped their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Bank of America cut their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th.

Institutional Trading of Sysco

Large investors have recently made changes to their positions in the business. Fisher Asset Management LLC boosted its stake in shares of Sysco by 52.5% in the 4th quarter. Fisher Asset Management LLC now owns 8,084 shares of the company’s stock valued at $591,000 after purchasing an additional 2,784 shares during the last quarter. Ballentine Partners LLC grew its holdings in Sysco by 2.9% during the first quarter. Ballentine Partners LLC now owns 10,055 shares of the company’s stock valued at $816,000 after purchasing an additional 281 shares during the period. Global Assets Advisory LLC bought a new stake in Sysco in the first quarter valued at approximately $1,145,000. Riverview Trust Co acquired a new stake in Sysco in the first quarter worth $77,000. Finally, First Financial Corp IN boosted its position in shares of Sysco by 2.2% during the first quarter. First Financial Corp IN now owns 7,417 shares of the company’s stock worth $602,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY opened at $74.71 on Tuesday. The firm has a market cap of $36.70 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.97 and a beta of 1.20. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The business’s 50 day moving average is $76.54 and its two-hundred day moving average is $74.84. Sysco has a 52-week low of $64.28 and a 52-week high of $82.89.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 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.