SYSCO (NYSE:SYY) had its price objective raised by Barclays from $70.00 to $71.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. They currently have an equal weight rating on the stock.
Several other analysts also recently commented on the stock. ValuEngine raised shares of SYSCO from a hold rating to a buy rating in a report on Wednesday, May 29th. Consumer Edge assumed coverage on shares of SYSCO in a report on Wednesday, July 17th. They set an underweight rating and a $71.75 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of SYSCO from $77.00 to $75.00 and set an overweight rating for the company in a report on Tuesday, June 4th. Loop Capital lifted their target price on shares of SYSCO to $80.00 and gave the stock a buy rating in a report on Wednesday, May 8th. Finally, Morgan Stanley lifted their target price on shares of SYSCO from $69.00 to $72.00 and gave the stock an equal weight rating in a report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $73.60.
Shares of SYY stock opened at $72.96 on Tuesday. The company has a market capitalization of $37.50 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.96 and a beta of 0.52. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.79 and a current ratio of 1.33. The company has a 50-day simple moving average of $70.97 and a 200 day simple moving average of $69.67. SYSCO has a 52 week low of $59.44 and a 52 week high of $75.98.
SYSCO (NYSE:SYY) last announced its earnings results on Monday, August 12th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. The business had revenue of $15.47 billion during the quarter, compared to the consensus estimate of $15.65 billion. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. SYSCO’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 EPS. Sell-side analysts forecast that SYSCO will post 3.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is 43.94%.
Institutional investors have recently modified their holdings of the business. Krane Funds Advisors LLC acquired a new position in shares of SYSCO in the 2nd quarter valued at approximately $25,000. Advisors Preferred LLC bought a new stake in shares of SYSCO during the 1st quarter valued at approximately $26,000. SRS Capital Advisors Inc. bought a new stake in shares of SYSCO during the 2nd quarter valued at approximately $28,000. Coastal Capital Group Inc. bought a new stake in shares of SYSCO during the 2nd quarter valued at approximately $29,000. Finally, Lenox Wealth Management Inc. grew its holdings in shares of SYSCO by 163.7% during the 1st quarter. Lenox Wealth Management Inc. now owns 480 shares of the company’s stock valued at $32,000 after purchasing an additional 298 shares during the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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