Analysts Set Sysco Co. (NYSE:SYY) PT at $86.08

Sysco Co. (NYSE:SYY) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $86.08.

A number of equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Truist Financial dropped their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Bank of America dropped their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SYY. Capital World Investors acquired a new position in shares of Sysco during the 4th quarter worth about $683,599,000. Capital Research Global Investors raised its position in shares of Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after purchasing an additional 3,504,740 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after purchasing an additional 2,408,226 shares during the last quarter. Swedbank AB acquired a new position in shares of Sysco during the 1st quarter worth about $178,824,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Sysco by 132.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after purchasing an additional 2,084,501 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

NYSE SYY opened at $77.74 on Friday. The firm’s fifty day simple moving average is $76.39 and its two-hundred day simple moving average is $75.37. 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 12-month low of $62.24 and a 12-month high of $82.89. The firm has a market capitalization of $38.21 billion, a P/E ratio of 18.96, a P/E/G ratio of 2.02 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.34 earnings per share. 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. Investors of record on Friday, October 4th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.62%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

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.