Analysts Set Sysco Co. (NYSE:SYY) Target Price at $85.93

Sysco Co. (NYSE:SYY) has earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $85.93.

Several analysts have issued reports on SYY shares. Melius assumed coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th.

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock valued at $6,485,050 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Armstrong Advisory Group Inc. increased its holdings in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new position in Sysco during the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. purchased a new position in Sysco in the 3rd quarter worth approximately $31,000. Focused Wealth Management Inc purchased a new stake in shares of Sysco during the third quarter valued at approximately $37,000. Finally, Canoe Financial LP bought a new position in shares of Sysco in the third quarter worth approximately $38,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

SYY opened at $73.66 on Friday. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The firm has a 50-day moving average of $77.02 and a 200 day moving average of $75.73. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The firm has a market cap of $36.18 billion, a P/E ratio of 18.94, a PEG ratio of 2.10 and a beta of 1.18.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 earnings per share. On average, research analysts expect that Sysco will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.77%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is 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.