Analysts Set Sysco Co. (NYSE:SYY) PT at $84.77

Sysco Co. (NYSE:SYY) has earned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $84.77.

A number of equities analysts recently issued reports on SYY shares. Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. UBS Group lowered their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley reduced their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock.

Sysco Trading Up 1.7 %

NYSE SYY opened at $73.99 on Friday. The stock has a market cap of $36.20 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.23. The stock has a 50 day simple moving average of $72.97 and a two-hundred day simple moving average of $75.18. 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 (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate 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 previous year, the company earned $0.89 EPS. On average, analysts forecast that Sysco will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.76%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Buying and Selling at Sysco

In other 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 transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Sysco

Hedge funds have recently bought and sold shares of the business. Parvin Asset Management LLC purchased a new stake in shares of Sysco during the 4th quarter valued at about $29,000. Stonebridge Financial Group LLC purchased a new stake in Sysco in the fourth quarter worth approximately $31,000. Flagship Wealth Advisors LLC bought a new stake in Sysco in the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. purchased a new stake in Sysco during the 4th quarter valued at $31,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

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.