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

Sysco Co. (NYSE:SYYGet Rating) has been given an average rating of “Moderate Buy” by the eleven analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $92.00.

Several brokerages have recently commented on SYY. Stephens initiated coverage on Sysco in a report on Thursday, September 22nd. They set an “overweight” rating and a $90.00 target price for the company. Truist Financial lowered their price objective on Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Morgan Stanley increased their target price on Sysco from $84.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 2nd. Barclays reduced their price objective on Sysco from $100.00 to $92.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Finally, Argus raised their target price on Sysco from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 2nd.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 12,000 shares of the company’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the executive vice president now directly owns 40,931 shares in the company, valued at $3,479,135. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sysco news, CEO Kevin Hourican sold 75,019 shares of the stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $81.22, for a total transaction of $6,093,043.18. Following the completion of the sale, the chief executive officer now directly owns 303,643 shares in the company, valued at approximately $24,661,884.46. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 12,000 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $85.00, for a total value of $1,020,000.00. Following the sale, the executive vice president now owns 40,931 shares of the company’s stock, valued at $3,479,135. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sysco

Several large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Sysco by 11.1% during the 1st quarter. Wellington Management Group LLP now owns 35,539,582 shares of the company’s stock valued at $2,901,806,000 after purchasing an additional 3,536,646 shares in the last quarter. CFS Investment Advisory Services LLC increased its position in shares of Sysco by 8,046.2% in the first quarter. CFS Investment Advisory Services LLC now owns 2,049,905 shares of the company’s stock valued at $25,000 after acquiring an additional 2,024,741 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Sysco in the third quarter valued at about $86,016,000. Renaissance Technologies LLC increased its position in shares of Sysco by 660.7% during the third quarter. Renaissance Technologies LLC now owns 1,374,500 shares of the company’s stock valued at $97,191,000 after buying an additional 1,193,800 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Sysco by 27.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,187,525 shares of the company’s stock valued at $439,437,000 after buying an additional 1,111,654 shares during the period. Institutional investors own 82.43% of the company’s stock.

Sysco Trading Up 0.2 %

NYSE:SYY opened at $85.23 on Tuesday. Sysco has a 1 year low of $68.05 and a 1 year high of $91.53. The stock has a market cap of $43.19 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 1.85 and a beta of 1.11. The business has a fifty day moving average of $79.03 and a 200-day moving average of $82.19. The company has a debt-to-equity ratio of 9.20, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 6th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, January 5th. Sysco’s payout ratio is 69.50%.

Sysco Company Profile

(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.

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Analyst Recommendations for Sysco (NYSE:SYY)

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