Sysco (NYSE:SYY) Price Target Cut to $82.00 by Analysts at Wells Fargo & Company

Sysco (NYSE:SYY) had its price objective trimmed by Wells Fargo & Company from $87.00 to $82.00 in a report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Bank of America lowered their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Morgan Stanley decreased their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. JPMorgan Chase & Co. boosted their target price 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 upped their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.77.

Sysco Stock Up 0.2 %

NYSE:SYY opened at $74.31 on Wednesday. Sysco has a 1 year low of $64.28 and a 1 year high of $82.89. The stock has a 50-day moving average price of $76.28 and a two-hundred day moving average price of $74.74. The stock has a market cap of $36.50 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 1.93 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, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 earnings per share. As a group, equities analysts expect that Sysco will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Institutional Investors Weigh In On Sysco

Institutional investors and hedge funds have recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its holdings in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of Sysco in the second quarter valued at approximately $25,000. Focused Wealth Management Inc bought a new position in shares of Sysco during the 3rd quarter worth approximately $37,000. Canoe Financial LP acquired a new position in shares of Sysco during the 3rd quarter worth approximately $38,000. Finally, Fairscale Capital LLC bought a new stake in Sysco in the 2nd quarter valued at $38,000. 83.41% of the stock is owned by institutional investors.

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.