Sysco Co. (NYSE:SYY) Given Average Rating of "Moderate Buy" by Brokerages

Sysco Co. (NYSE:SYY - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fourteen research firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $83.00.

A number of equities analysts recently weighed in on SYY shares. UBS Group lowered their price objective on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Barclays dropped their price objective on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Wall Street Zen lowered Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. Finally, Citigroup began coverage on shares of Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target on the stock.

Sysco Trading Up 1.1%

Shares of Sysco stock traded up $0.83 during trading hours on Wednesday, hitting $73.73. The company's stock had a trading volume of 3,008,816 shares, compared to its average volume of 3,492,792. The stock has a market cap of $35.74 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.88 and a beta of 0.80. 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 $67.12 and a twelve month high of $82.23. The firm has a fifty day moving average of $71.71 and a 200-day moving average of $73.72.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The company had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 earnings per share. Research analysts forecast that Sysco will post 4.58 EPS for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.93%. This is a positive change from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco's dividend payout ratio (DPR) is presently 55.96%.

Insider Buying and Selling

In related news, Director Sheila Talton sold 356 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was 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 of the company's stock, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. NorthCrest Asset Manangement LLC boosted its stake in Sysco by 4.9% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after acquiring an additional 139 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Sysco by 1.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock valued at $627,000 after purchasing an additional 143 shares during the period. MV Capital Management Inc. grew its stake in Sysco by 0.4% during the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock worth $2,625,000 after buying an additional 144 shares during the last quarter. Finally, Morton Community Bank increased its position in Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock worth $3,103,000 after buying an additional 145 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

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.