Brokerages Set Sysco Co. (NYSE:SYY) Target Price at $84.77

Sysco Co. (NYSE:SYY) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $84.77.

SYY has been the subject of a number of recent research reports. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Morgan Stanley lowered their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company upped their target price on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th.

Insider Activity at Sysco

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

Institutional Trading of Sysco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYY. Vanguard Group Inc. grew its stake in shares of Sysco by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock valued at $4,703,775,000 after purchasing an additional 429,711 shares during the period. State Street Corp grew its position in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the period. Invesco Ltd. raised its stake in Sysco by 5.3% during the fourth quarter. Invesco Ltd. now owns 16,907,541 shares of the company’s stock worth $1,292,751,000 after acquiring an additional 851,441 shares in the last quarter. Boston Partners lifted 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 valued at $930,296,000 after acquiring an additional 7,184,754 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Sysco by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock valued at $905,120,000 after purchasing an additional 233,885 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 1.5 %

SYY opened at $70.38 on Friday. The company has a market capitalization of $34.43 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. 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 has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The business has a 50-day moving average of $72.98 and a 200-day moving average of $75.21.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the firm earned $0.89 EPS. Equities research analysts forecast 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. Investors of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is presently 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.