Sysco Co. (NYSE:SYY) Receives $84.77 Average Price Target from Analysts

Sysco Co. (NYSE:SYY) has been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $84.77.

A number of equities research analysts have commented on SYY shares. Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Truist Financial dropped their price objective 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. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Barclays lowered their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Sysco

Hedge funds have recently added to or reduced their stakes in the business. Parvin Asset Management LLC acquired a new position in Sysco in the fourth quarter valued at about $29,000. Stonebridge Financial Group LLC acquired a new position in shares of Sysco in the 4th quarter valued at approximately $31,000. Flagship Wealth Advisors LLC acquired a new position in shares of Sysco in the 4th quarter valued at approximately $31,000. Sherman Asset Management Inc. bought a new stake in Sysco during the 4th quarter worth approximately $31,000. Finally, SRS Capital Advisors Inc. raised its holdings in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 1.5 %

Shares of SYY opened at $70.38 on Friday. The company has a market capitalization of $34.43 billion, a P/E ratio of 18.09, a PEG ratio of 1.88 and a beta of 1.11. Sysco has a one year low of $69.03 and a one year high of $82.33. The business’s 50 day simple moving average is $72.98 and its 200-day simple moving average is $75.21. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

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

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is currently 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.