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

by · The Cerbat Gem

Sysco Co. (NYSE:SYY – Get Free Report) has earned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $83.30.

A number of research firms have recently commented on SYY. Morgan Stanley increased their price target on shares of Sysco from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday, November 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Sysco in a report on Thursday, October 19th. They set a “buy” rating and a $75.00 price target on the stock. Stephens cut their price target on shares of Sysco from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, November 1st. Barclays cut their price target on shares of Sysco from $86.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, October 23rd. Finally, StockNews.com started coverage on shares of Sysco in a report on Thursday, October 5th. They set a “strong-buy” rating on the stock.

Get Our Latest Stock Report on Sysco

Sysco Price Performance

Shares of SYY opened at $74.42 on Wednesday. The stock has a market cap of $37.54 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.47 and a beta of 1.15. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.74 and a current ratio of 1.29. Sysco has a fifty-two week low of $62.24 and a fifty-two week high of $82.38. The firm’s 50-day simple moving average is $70.94 and its two-hundred day simple moving average is $70.73.

Sysco (NYSE:SYY – Get Free Report) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The business had revenue of $19.62 billion for the quarter, compared to analysts’ expectations of $19.73 billion. Sysco had a net margin of 2.35% and a return on equity of 117.17%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 earnings per share. Analysts anticipate that Sysco will post 4.33 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $2.00 annualized dividend and a yield of 2.69%. Sysco’s payout ratio is presently 56.34%.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 2,200 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $71.76, for a total value of $157,872.00. Following the transaction, the director now directly owns 12,782 shares in the company, valued at $917,236.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.58% of the company’s stock.

Institutional Trading of Sysco

Several institutional investors and hedge funds have recently modified their holdings of the company. Symmetry Partners LLC raised its position in shares of Sysco by 27.6% during the 4th quarter. Symmetry Partners LLC now owns 7,083 shares of the company’s stock valued at $517,000 after purchasing an additional 1,531 shares during the period. Anchor Investment Management LLC bought a new stake in shares of Sysco during the 4th quarter valued at $238,000. Appleton Partners Inc. MA raised its position in shares of Sysco by 0.8% during the 4th quarter. Appleton Partners Inc. MA now owns 27,133 shares of the company’s stock valued at $1,984,000 after purchasing an additional 215 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Sysco during the 3rd quarter valued at $4,201,000. Finally, Tucker Asset Management LLC raised its position in shares of Sysco by 66.7% during the 3rd quarter. Tucker Asset Management LLC now owns 7,862 shares of the company’s stock valued at $519,000 after purchasing an additional 3,147 shares during the period. 80.60% of the stock is currently owned by institutional investors.

About Sysco

(Get Free Report

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.

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