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

Sysco Co. (NYSE:SYY – Get Rating) has earned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $89.00.

A number of analysts have recently issued reports on SYY shares. Morgan Stanley dropped their price target on shares of Sysco from $87.00 to $86.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 1st. Barclays cut their target price on shares of Sysco from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 1st. Stephens reissued an “overweight” rating and set a $90.00 price target on shares of Sysco in a report on Friday, January 13th. Truist Financial cut their price objective on Sysco from $92.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, February 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Sysco from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, February 1st.

Sysco Trading Up 0.7 %

NYSE:SYY opened at $75.09 on Thursday. The stock has a market cap of $38.12 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 2.08 and a beta of 1.10. Sysco has a 52 week low of $70.61 and a 52 week high of $91.53. The company has a quick ratio of 0.68, a current ratio of 1.24 and a debt-to-equity ratio of 7.20. The company’s 50 day moving average price is $77.66 and its 200-day moving average price is $79.92.

Sysco (NYSE:SYY – Get Rating) last posted its earnings results on Tuesday, January 31st. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.04). The business had revenue of $18.59 billion during the quarter, compared to the consensus estimate of $18.59 billion. Sysco had a return on equity of 140.94% and a net margin of 1.93%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. On average, equities research analysts forecast that Sysco will post 4.05 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 6th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.61%. Sysco’s dividend payout ratio (DPR) is presently 70.76%.

Institutional Trading of Sysco

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Sysco by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 47,155,616 shares of the company’s stock worth $3,334,373,000 after buying an additional 709,072 shares in the last quarter. BlackRock Inc. raised its stake in Sysco by 1.4% during the 3rd quarter. BlackRock Inc. now owns 31,973,012 shares of the company’s stock valued at $2,260,812,000 after purchasing an additional 448,790 shares during the period. Parnassus Investments LLC raised its stake in Sysco by 144.3% during the 4th quarter. Parnassus Investments LLC now owns 13,076,228 shares of the company’s stock valued at $999,678,000 after purchasing an additional 7,723,075 shares during the period. FMR LLC lifted its holdings in Sysco by 5.1% in the 2nd quarter. FMR LLC now owns 12,638,244 shares of the company’s stock worth $1,070,587,000 after purchasing an additional 608,222 shares in the last quarter. Finally, Aristotle Capital Management LLC boosted its stake in Sysco by 422.4% in the 4th quarter. Aristotle Capital Management LLC now owns 11,444,739 shares of the company’s stock worth $874,950,000 after purchasing an additional 9,253,988 shares during the period. 81.18% of the stock is owned by hedge funds and other institutional investors.

Sysco Company Profile

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Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.