Analysts Set Sysco Co. (NYSE:SYY) Price Target at $83.00

Shares of Sysco Co. (NYSE:SYY) have been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $83.00.

Several equities analysts have recently weighed in on SYY shares. Citigroup started coverage on Sysco in a report on Thursday, May 22nd. They set a “neutral” rating and a $78.00 price target for the company. JPMorgan Chase & Co. raised their price target on Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. BMO Capital Markets reduced their price target on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director now directly owns 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sysco

A number of large investors have recently made changes to their positions in SYY. DAVENPORT & Co LLC grew its stake in shares of Sysco by 1.1% during the 4th quarter. DAVENPORT & Co LLC now owns 60,160 shares of the company’s stock valued at $4,600,000 after purchasing an additional 679 shares during the period. CENTRAL TRUST Co grew its stake in shares of Sysco by 74.0% during the 4th quarter. CENTRAL TRUST Co now owns 5,812 shares of the company’s stock valued at $444,000 after purchasing an additional 2,471 shares during the period. HHM Wealth Advisors LLC grew its stake in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after purchasing an additional 321 shares during the period. One Wealth Advisors LLC bought a new stake in shares of Sysco during the 4th quarter valued at about $348,000. Finally, Columbus Macro LLC lifted its position in shares of Sysco by 261.5% during the 4th quarter. Columbus Macro LLC now owns 94,171 shares of the company’s stock valued at $7,200,000 after buying an additional 68,123 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Shares of Sysco stock opened at $74.56 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a market capitalization of $36.15 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.88 and a beta of 0.81. The business has a fifty day simple moving average of $71.67 and a two-hundred day simple moving average of $73.70. Sysco has a 12 month low of $67.12 and a 12 month high of $82.23.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). The firm had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. On average, equities analysts forecast that Sysco will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.90%. This is an increase from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio (DPR) is presently 55.96%.

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.