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

Shares of Sysco Co. (NYSE:SYY) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $86.08.

SYY has been the subject of several recent analyst reports. Truist Financial lowered their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Morgan Stanley lowered their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Bank of America lowered their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st.

Institutional Investors Weigh In On Sysco

A number of institutional investors have recently modified their holdings of the stock. TruNorth Capital Management LLC bought a new stake in shares of Sysco during the 2nd quarter valued at about $25,000. Burkett Financial Services LLC bought a new stake in shares of Sysco during the 4th quarter valued at about $30,000. OFI Invest Asset Management bought a new stake in shares of Sysco during the 1st quarter valued at about $31,000. Fairscale Capital LLC bought a new stake in shares of Sysco during the 2nd quarter valued at about $38,000. Finally, Fairman Group LLC bought a new stake in shares of Sysco during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

SYY stock opened at $76.12 on Friday. 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 has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a market cap of $37.41 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 2.02 and a beta of 1.20. The firm has a 50 day moving average of $76.60 and a 200-day moving average of $75.39.

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, topping the consensus estimate of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.34 EPS. As a group, equities analysts expect that Sysco will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.68%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

About Sysco

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.