Sysco (NYSE:SYY) Price Target Increased to $76.00 by Analysts at Morgan Stanley

Sysco (NYSE:SYY) had its target price boosted by Morgan Stanley from $75.00 to $76.00 in a report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts also recently issued reports on SYY. Deutsche Bank Aktiengesellschaft assumed coverage on Sysco in a research note on Thursday, October 19th. They issued a buy rating and a $75.00 price target for the company. Barclays cut their target price on Sysco from $86.00 to $77.00 and set an overweight rating for the company in a research report on Monday, October 23rd. Stephens cut their target price on Sysco from $90.00 to $80.00 and set an overweight rating for the company in a research report on Wednesday. StockNews.com assumed coverage on Sysco in a research report on Thursday, October 5th. They set a strong-buy rating for the company. Finally, Truist Financial lowered their price target on Sysco from $88.00 to $87.00 and set a buy rating for the company in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $83.30.

Sysco Stock Up 2.1 %

NYSE:SYY opened at $67.02 on Wednesday. The firm has a market capitalization of $33.79 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.33 and a beta of 1.13. Sysco has a twelve month low of $62.24 and a twelve month high of $87.21. The stock’s 50 day moving average price is $67.06 and its two-hundred day moving average price is $71.20. The company has a quick ratio of 0.72, a current ratio of 1.29 and a debt-to-equity ratio of 5.04.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 31st. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.02 by $0.05. Sysco had a return on equity of 117.17% and a net margin of 2.35%. The company had revenue of $19.62 billion during the quarter, compared to the consensus estimate of $19.73 billion. During the same period in the previous year, the company posted $0.97 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts expect that Sysco will post 4.33 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 6th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.98%. Sysco’s dividend payout ratio (DPR) is presently 56.34%.

Institutional Investors Weigh In On Sysco

Several institutional investors and hedge funds have recently made changes to their positions in SYY. Brinker Capital Investments LLC increased its holdings in Sysco by 3.2% during the 1st quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock valued at $314,000 after purchasing an additional 121 shares during the period. Geller Advisors LLC boosted its position in Sysco by 4.2% during the 1st quarter. Geller Advisors LLC now owns 3,362 shares of the company’s stock valued at $276,000 after acquiring an additional 136 shares in the last quarter. Red Door Wealth Management LLC boosted its position in Sysco by 4.3% during the 1st quarter. Red Door Wealth Management LLC now owns 3,328 shares of the company’s stock valued at $257,000 after acquiring an additional 137 shares in the last quarter. Independence Bank of Kentucky boosted its position in Sysco by 9.7% during the 2nd quarter. Independence Bank of Kentucky now owns 1,585 shares of the company’s stock valued at $118,000 after acquiring an additional 140 shares in the last quarter. Finally, Accretive Wealth Partners LLC boosted its position in Sysco by 0.7% during the 1st quarter. Accretive Wealth Partners LLC now owns 21,036 shares of the company’s stock valued at $1,625,000 after acquiring an additional 144 shares in the last quarter. Institutional investors own 80.60% of the company’s stock.

Sysco Company Profile

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.