Analysts Set Sysco Co. (NYSE:SYY) Target Price at $85.21

Shares of Sysco Co. (NYSE:SYY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fifteen ratings firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $85.21.

A number of research firms recently issued reports on SYY. Morgan Stanley lowered their target price on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday. Truist Financial dropped their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday. Melius started coverage on Sysco in a report on Wednesday, December 18th. They issued a "hold" rating and a $85.00 target price on the stock. Melius Research upgraded Sysco to a "hold" rating in a research note on Wednesday, December 18th. Finally, StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research note on Monday.

Sysco Price Performance

NYSE SYY traded up $0.61 during trading hours on Thursday, reaching $72.53. The company's stock had a trading volume of 1,236,259 shares, compared to its average volume of 3,317,168. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The stock has a market cap of $35.63 billion, a PE ratio of 18.64, a PEG ratio of 2.04 and a beta of 1.18. The company's 50-day moving average is $76.40 and its two-hundred day moving average is $76.00. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting analysts' consensus estimates of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Analysts forecast that Sysco will post 4.57 EPS for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco's dividend payout ratio is currently 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Greg D. Bertrand sold 21,844 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the transaction, the executive vice president now owns 60,581 shares of the company's stock, valued at $4,846,480. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock valued at $6,485,050 in the last three months. Corporate insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Sysco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Sector Pension Investment Board lifted its holdings in Sysco by 87.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 19,187 shares of the company's stock valued at $1,370,000 after acquiring an additional 8,940 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Sysco by 58.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 63,387 shares of the company's stock worth $4,525,000 after buying an additional 23,321 shares during the last quarter. Quarry LP increased its holdings in shares of Sysco by 260.7% in the second quarter. Quarry LP now owns 1,248 shares of the company's stock valued at $89,000 after buying an additional 902 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Sysco by 18.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 9,926 shares of the company's stock valued at $709,000 after acquiring an additional 1,570 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Sysco by 2.7% during the 2nd quarter. Cetera Investment Advisers now owns 292,770 shares of the company's stock worth $20,901,000 after acquiring an additional 7,758 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

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.