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

Shares of Sysco Co. (NYSE:SYY) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $86.91.

Several equities research analysts have issued reports on the stock. Stephens reaffirmed an “overweight” rating and set a $90.00 price target on shares of Sysco in a research note on Tuesday, August 1st. StockNews.com began coverage on shares of Sysco in a research report on Thursday, August 17th. They issued a “strong-buy” rating on the stock. Truist Financial decreased their target price on shares of Sysco from $88.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $79.00 target price on shares of Sysco in a research report on Wednesday, August 2nd. Finally, Barclays raised their target price on shares of Sysco from $85.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd.

Institutional Trading of Sysco

Hedge funds have recently made changes to their positions in the company. Deutsche Bank AG raised its stake in shares of Sysco by 0.8% during the fourth quarter. Deutsche Bank AG now owns 818,272 shares of the company’s stock valued at $62,557,000 after purchasing an additional 6,175 shares during the period. Legacy Capital Wealth Partners LLC purchased a new stake in shares of Sysco during the first quarter valued at approximately $856,000. Wendell David Associates Inc. raised its stake in shares of Sysco by 6.0% during the first quarter. Wendell David Associates Inc. now owns 67,935 shares of the company’s stock valued at $5,247,000 after purchasing an additional 3,860 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Sysco during the first quarter valued at approximately $343,000. Finally, Venture Visionary Partners LLC raised its stake in shares of Sysco by 11.4% during the first quarter. Venture Visionary Partners LLC now owns 4,835 shares of the company’s stock valued at $373,000 after purchasing an additional 493 shares during the period. Hedge funds and other institutional investors own 80.60% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY opened at $71.02 on Monday. Sysco has a 52 week low of $68.18 and a 52 week high of $87.41. The stock has a market cap of $35.86 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.33 and a beta of 1.11. The company’s 50-day moving average price is $72.32 and its 200 day moving average price is $73.58. The company has a current ratio of 1.24, a quick ratio of 0.72 and a debt-to-equity ratio of 5.15.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, August 1st. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. Sysco had a net margin of 2.32% and a return on equity of 133.27%. The company had revenue of $19.73 billion for the quarter, compared to analysts’ expectations of $19.95 billion. During the same period last year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that Sysco will post 4.29 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be issued a $0.50 dividend. The ex-dividend date is Thursday, October 5th. This represents a $2.00 annualized dividend and a yield of 2.82%. Sysco’s payout ratio is 57.64%.

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.