Sysco Co. (NYSE:SYY) Receives Average Recommendation of "Moderate Buy" from Analysts

Sysco Co. (NYSE:SYY - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fourteen analysts that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $84.77.

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Guggenheim reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Barclays cut their price objective on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price target on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th.

Hedge Funds Weigh In On Sysco

Large investors have recently bought and sold shares of the business. Morse Asset Management Inc purchased a new stake in Sysco during the 3rd quarter worth approximately $390,000. Y Intercept Hong Kong Ltd acquired a new position in Sysco in the 3rd quarter worth approximately $368,000. Barclays PLC raised its position in Sysco by 43.2% during the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company's stock worth $133,902,000 after buying an additional 517,219 shares during the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of Sysco by 5.5% in the 3rd quarter. SkyView Investment Advisors LLC now owns 8,509 shares of the company's stock valued at $664,000 after acquiring an additional 445 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Sysco in the third quarter worth $610,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Price Performance

SYY stock traded up $1.02 during midday trading on Tuesday, reaching $71.71. The company had a trading volume of 2,762,479 shares, compared to its average volume of 3,339,805. The company has a market capitalization of $35.08 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.88 and a beta of 0.91. The firm has a 50-day moving average price of $72.67 and a 200-day moving average price of $74.54. Sysco has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts' consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the firm posted $0.89 EPS. On average, research analysts anticipate that Sysco will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, April 4th. Sysco's payout ratio 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.