Brokerages Set Sysco Co. (NYSE:SYY) Price Target at $86.08

Shares of Sysco Co. (NYSE:SYY) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $86.08.

SYY has been the subject of a number of recent research reports. Bank of America decreased 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 research note on Tuesday, July 16th. Barclays upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th.

Hedge Funds Weigh In On Sysco

Several hedge funds have recently made changes to their positions in SYY. Armstrong Advisory Group Inc. grew its stake in Sysco by 1,240.0% during the 3rd 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 last quarter. TruNorth Capital Management LLC purchased a new position in shares of Sysco during the second quarter worth approximately $25,000. Canoe Financial LP acquired a new position in shares of Sysco in the 3rd quarter valued at $38,000. Fairscale Capital LLC purchased a new stake in Sysco in the 2nd quarter valued at $38,000. Finally, LRI Investments LLC acquired a new stake in Sysco during the 1st quarter worth $45,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $74.37 on Tuesday. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The company has a market cap of $36.53 billion, a P/E ratio of 19.12, a P/E/G ratio of 1.95 and a beta of 1.20. The stock has a 50-day moving average of $76.51 and a two-hundred day moving average of $74.82. Sysco has a 1-year low of $64.28 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 earnings per share. As a group, analysts anticipate that Sysco will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given 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 yield of 2.74%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.