Sysco Co. (NYSE:SYY) Receives $85.93 Average Price Target from Brokerages

Shares of Sysco Co. (NYSE:SYY) have earned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $85.93.

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

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock valued at $6,485,050 over the last three months. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Sysco

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

Sysco Stock Performance

NYSE SYY opened at $74.80 on Friday. The company has a market capitalization of $36.74 billion, a P/E ratio of 19.23, a P/E/G ratio of 2.10 and a beta of 1.18. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco has a 52-week low of $69.03 and a 52-week high of $82.89. The company has a fifty day moving average of $77.05 and a 200-day moving average of $75.73.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. As a group, equities research analysts predict that Sysco will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend 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.