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

Shares of Sysco Co. (NYSE:SYY - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating 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.

Several research analysts have issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 16th. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Barclays lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Finally, Truist Financial reduced their price target on shares of Sysco from $87.00 to $85.00 and set a "buy" rating for the company in a research report on Monday, June 24th.

Institutional Investors Weigh In On Sysco

Several institutional investors and hedge funds have recently modified their holdings of SYY. Armstrong Advisory Group Inc. boosted 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 valued at $26,000 after purchasing an additional 310 shares during the period. TruNorth Capital Management LLC bought a new position in Sysco during the second quarter worth $25,000. Fairscale Capital LLC acquired a new position in Sysco during the 2nd quarter valued at $38,000. LRI Investments LLC bought a new stake in Sysco in the 1st quarter valued at $45,000. Finally, ESL Trust Services LLC acquired a new stake in Sysco in the 1st quarter worth $49,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

Shares of Sysco stock traded up $0.09 on Tuesday, hitting $74.80. The company had a trading volume of 1,916,458 shares, compared to its average volume of 3,153,938. Sysco has a 52 week low of $64.28 and a 52 week high of $82.89. 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 $36.74 billion, a PE ratio of 19.23, a PEG ratio of 1.97 and a beta of 1.20. The business has a 50-day simple moving average of $76.53 and a 200-day simple moving average of $74.82.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same period last year, the company posted $1.34 EPS. The firm's quarterly revenue was up 4.2% on a year-over-year basis. Research analysts expect that Sysco will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. Sysco's dividend payout ratio (DPR) is 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.