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

Shares of Sysco Co. (NYSE:SYY) have received an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $85.21.

Several research analysts recently weighed in on SYY shares. UBS Group reduced their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday. Guggenheim restated a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday. Truist Financial cut their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday.

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock worth $6,485,050 in the last 90 days. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Sysco

A number of hedge funds have recently made changes to their positions in the stock. National Pension Service boosted its position in Sysco by 15.6% in the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after buying an additional 166,798 shares during the period. New England Asset Management Inc. boosted its position in Sysco by 12.7% in the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after buying an additional 14,810 shares during the period. Empowered Funds LLC boosted its position in Sysco by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after buying an additional 17,587 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares during the period. Finally, Captrust Financial Advisors boosted its position in Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after buying an additional 8,891 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.4 %

SYY stock opened at $71.96 on Thursday. The company’s 50-day simple moving average is $76.43 and its 200-day simple moving average is $76.03. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco has a 52-week low of $69.03 and a 52-week high of $82.89. The firm has a market cap of $35.35 billion, a P/E ratio of 18.50, a PEG ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same quarter last year, the company posted $0.89 EPS. As a group, equities analysts forecast that Sysco will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.51 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. Sysco’s dividend payout ratio is currently 52.44%.

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.