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

Shares of Sysco Co. (NYSE:SYY) have received an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $84.77.

Several equities research analysts have issued reports on SYY shares. JPMorgan Chase & Co. cut their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. UBS Group reduced their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Barclays dropped their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th.

Hedge Funds Weigh In On Sysco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boston Partners increased its holdings in shares of Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after buying an additional 7,184,754 shares in the last quarter. Norges Bank bought a new position in Sysco in the fourth quarter valued at about $450,441,000. Capital Research Global Investors grew its holdings in shares of Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock worth $687,488,000 after purchasing an additional 1,928,002 shares during the last quarter. Mondrian Investment Partners LTD acquired a new position in shares of Sysco in the fourth quarter valued at approximately $123,928,000. Finally, Raymond James Financial Inc. bought a new position in Sysco in the 4th quarter valued at approximately $97,078,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

SYY opened at $71.45 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco has a 12-month low of $67.12 and a 12-month high of $82.23. The business has a 50 day moving average of $72.69 and a 200-day moving average of $74.50. The stock has a market cap of $34.96 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY) last released 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 net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, equities research analysts expect that Sysco will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. Sysco’s payout ratio is currently 52.44%.

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.