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

Sysco Co. (NYSE:SYY) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $85.27.

A number of research analysts recently issued reports on the stock. Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. BMO Capital Markets reduced their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd.

Institutional Trading of Sysco

A number of institutional investors have recently made changes to their positions in SYY. Capital World Investors bought a new stake in shares of Sysco in the fourth quarter worth $683,599,000. Norges Bank bought a new stake in Sysco during the fourth quarter worth $450,794,000. Capital Research Global Investors raised its position in Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC raised its position in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after acquiring an additional 2,408,226 shares in the last quarter. Finally, Swedbank AB bought a new stake in Sysco during the first quarter worth $178,824,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 0.5 %

Shares of NYSE SYY opened at $78.60 on Monday. The firm’s 50-day moving average is $74.61 and its 200-day moving average is $75.84. Sysco has a 1 year low of $62.24 and a 1 year high of $82.89. The firm has a market capitalization of $38.63 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. Equities analysts expect that Sysco will post 4.6 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is presently 49.76%.

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.