Brokerages Set Sysco Co. (NYSE:SYY) PT at $84.90

Sysco Co. (NYSE:SYY) has received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $85.00.

A number of research firms recently commented on SYY. Bank of America reduced their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets lowered their target price on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. UBS Group lowered their target price on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered their target price on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, May 28th.

Institutional Trading of Sysco

Several institutional investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC grew its position in shares of Sysco by 1.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after purchasing an additional 124 shares in the last quarter. Hunter Associates Investment Management LLC grew its position in shares of Sysco by 1.5% during the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock worth $606,000 after purchasing an additional 125 shares in the last quarter. Bell Investment Advisors Inc grew its position in shares of Sysco by 8.2% during the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after purchasing an additional 131 shares in the last quarter. Beacon Investment Advisors LLC grew its position in shares of Sysco by 0.5% during the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock worth $1,805,000 after purchasing an additional 133 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Sysco by 6.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock worth $165,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 1.0 %

NYSE SYY opened at $73.62 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. Sysco has a twelve month low of $62.24 and a twelve month high of $82.89. The firm has a market capitalization of $36.66 billion, a PE ratio of 17.96, a P/E/G ratio of 1.98 and a beta of 1.18. The stock’s 50 day moving average is $72.60 and its 200 day moving average is $76.17.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. Research analysts forecast that Sysco will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.77%. 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.