Analysts Set Sysco Co. (NYSE:SYY) Target Price at $88.89

Sysco Co. (NYSE:SYYGet Rating) has earned an average rating of “Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $88.89.

SYY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday, December 17th. CL King started coverage on Sysco in a report on Friday, March 11th. They set a “neutral” rating for the company. StockNews.com started coverage on Sysco in a report on Thursday, March 31st. They set a “buy” rating for the company. Piper Sandler increased their target price on Sysco from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 8th. Finally, Morgan Stanley increased their target price on Sysco from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 9th.

Shares of SYY traded down $0.40 during trading hours on Monday, reaching $86.27. The stock had a trading volume of 1,593,507 shares, compared to its average volume of 2,259,520. The company has a quick ratio of 0.78, a current ratio of 1.33 and a debt-to-equity ratio of 8.68. Sysco has a 52 week low of $68.05 and a 52 week high of $89.22. The firm has a 50-day moving average of $82.70 and a 200 day moving average of $79.32. The company has a market cap of $44.23 billion, a P/E ratio of 56.76, a P/E/G ratio of 2.48 and a beta of 1.26.

Sysco (NYSE:SYYGet Rating) last released its quarterly earnings data on Tuesday, February 8th. The company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.12). Sysco had a net margin of 1.29% and a return on equity of 82.36%. The firm had revenue of $16.32 billion during the quarter, compared to the consensus estimate of $15.88 billion. During the same quarter in the prior year, the company earned $0.17 EPS. Sysco’s quarterly revenue was up 41.2% on a year-over-year basis. As a group, equities analysts expect that Sysco will post 3.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 22nd. Stockholders of record on Friday, April 1st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 31st. Sysco’s payout ratio is 123.69%.

In other news, SVP James Chris Jasper sold 9,097 shares of the business’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $83.00, for a total transaction of $755,051.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sheila Talton sold 2,265 shares of the business’s stock in a transaction that occurred on Thursday, February 10th. The stock was sold at an average price of $82.14, for a total value of $186,047.10. The disclosure for this sale can be found here. Insiders sold a total of 186,400 shares of company stock valued at $15,965,169 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new stake in shares of Sysco during the fourth quarter worth approximately $25,000. Allegheny Financial Group LTD bought a new stake in shares of Sysco during the fourth quarter worth approximately $31,000. KRS Capital Management LLC bought a new stake in shares of Sysco during the fourth quarter worth approximately $31,000. DeDora Capital Inc. bought a new stake in shares of Sysco in the first quarter valued at approximately $31,000. Finally, Bell Investment Advisors Inc bought a new stake in shares of Sysco in the third quarter valued at approximately $36,000. Institutional investors own 80.94% of the company’s stock.

About Sysco (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

Further Reading

Analyst Recommendations for Sysco (NYSE:SYY)

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