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

Sysco Co. (NYSE:SYY) has received an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $83.38.

Several equities research analysts recently commented on the company. UBS Group reduced their price objective on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. BMO Capital Markets decreased their price objective on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Truist Financial cut their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd.

Insider Activity

In other Sysco news, Director Sheila Talton sold 356 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the sale, the director now directly owns 12,738 shares of the company’s stock, valued at $902,359.92. This trade represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Trading of Sysco

Institutional investors have recently made changes to their positions in the business. Buckley Wealth Management LLC raised its position in shares of Sysco by 0.8% during the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock valued at $1,391,000 after buying an additional 150 shares during the last quarter. WR Wealth Planners LLC increased its holdings in Sysco by 9.9% in the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after acquiring an additional 386 shares during the last quarter. Clark & Stuart Inc purchased a new stake in Sysco in the 4th quarter worth $7,613,000. Boston Trust Walden Corp boosted its holdings in shares of Sysco by 179.5% during the 4th quarter. Boston Trust Walden Corp now owns 804,345 shares of the company’s stock valued at $61,500,000 after purchasing an additional 516,585 shares during the last quarter. Finally, Lmcg Investments LLC purchased a new position in shares of Sysco during the fourth quarter valued at about $3,668,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 1.2 %

Shares of NYSE SYY opened at $70.77 on Friday. The firm’s 50 day moving average price is $72.16 and its 200-day moving average price is $74.13. Sysco has a 52-week low of $67.12 and a 52-week high of $82.23. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a market cap of $34.31 billion, a PE ratio of 18.19, a P/E/G ratio of 1.88 and a beta of 0.80.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. On average, equities research analysts expect that Sysco will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio is presently 55.96%.

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.