Analysts Set Sysco Co. (NYSE:SYY) Price Target at $83.38

Sysco Co. (NYSE:SYY - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fourteen analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $83.38.

Several research firms recently commented on SYY. Barclays dropped their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Truist Financial decreased their target price on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price target on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Finally, StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th.

Sysco Stock Performance

Shares of NYSE:SYY traded down $1.11 during midday trading on Friday, hitting $70.82. The stock had a trading volume of 3,162,647 shares, compared to its average volume of 3,360,574. Sysco has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock has a 50 day moving average price of $72.11 and a two-hundred day moving average price of $74.12. The company has a market capitalization of $34.33 billion, a PE ratio of 18.21, a P/E/G ratio of 1.88 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The company had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. During the same period in the previous year, the company posted $0.96 EPS. Sysco's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts predict that Sysco will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.05%. This is a boost from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's dividend payout ratio (DPR) is presently 55.96%.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sysco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rialto Wealth Management LLC boosted its position in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after buying an additional 217 shares during the period. Parvin Asset Management LLC acquired a new stake in Sysco during the 4th quarter worth about $29,000. Stonebridge Financial Group LLC purchased a new position in Sysco during the 4th quarter valued at about $31,000. Flagship Wealth Advisors LLC acquired a new position in shares of Sysco in the 4th quarter valued at about $31,000. Finally, Sherman Asset Management Inc. purchased a new stake in shares of Sysco in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds 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.