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

Sysco Co. (NYSE:SYY - Get Free Report) has earned an average rating of "Moderate Buy" from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $84.77.

SYY has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Barclays lowered their price target on shares of Sysco from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Melius started coverage on Sysco in a report on Wednesday, December 18th. They set a "hold" rating and a $85.00 price objective for the company. Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Finally, Guggenheim restated a "buy" rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

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Institutional Trading of Sysco

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Sysco by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock worth $4,703,775,000 after acquiring an additional 429,711 shares during the last quarter. State Street Corp lifted its stake in shares of Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Sysco by 5.3% during the fourth quarter. Invesco Ltd. now owns 16,907,541 shares of the company's stock worth $1,292,751,000 after purchasing an additional 851,441 shares during the last quarter. Boston Partners boosted its position in Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after buying an additional 7,184,754 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Sysco by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock worth $905,120,000 after acquiring an additional 233,885 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

NYSE:SYY traded up $0.31 during mid-day trading on Friday, hitting $71.42. The stock had a trading volume of 2,659,102 shares, compared to its average volume of 3,135,175. The company's 50 day simple moving average is $73.10 and its 200 day simple moving average is $75.32. The stock has a market cap of $34.94 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco has a twelve month low of $69.03 and a twelve month high of $82.33.

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

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, April 4th. Sysco's dividend payout ratio (DPR) is presently 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.