Sysco Co. (NYSE:SYY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Sysco Co. (NYSE:SYY) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $84.77.

A number of research analysts have issued reports on SYY shares. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Morgan Stanley cut their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th.

Institutional Trading of Sysco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rialto Wealth Management LLC grew its position in shares of Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after buying an additional 217 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Sysco in the 4th quarter valued at $29,000. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco during the 4th quarter worth $31,000. Sherman Asset Management Inc. acquired a new position in shares of Sysco during the fourth quarter worth $31,000. Finally, Flagship Wealth Advisors LLC purchased a new position in Sysco in the fourth quarter valued at $31,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of NYSE:SYY opened at $71.85 on Tuesday. Sysco has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The company has a market cap of $35.15 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company’s 50 day moving average is $72.62 and its 200 day moving average is $74.70.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the company earned $0.89 EPS. On average, sell-side analysts forecast that Sysco will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. Sysco’s payout ratio is 52.44%.

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.