Sysco Corporation (NYSE:SYY) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Sysco Corporation (NYSE:SYY) have received an average rating of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $83.00.

A number of brokerages recently weighed in on SYY. UBS Group lowered their price target on shares of Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Citigroup started 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. Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an “overweight” rating in a research report on Tuesday, April 22nd. Wall Street Zen cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, BMO Capital Markets lowered their price objective on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th.

Sysco Stock Down 1.0%

Shares of SYY opened at $76.88 on Friday. The stock has a market cap of $37.27 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 2.34 and a beta of 0.81. The company has a 50-day moving average price of $73.15 and a two-hundred day moving average price of $73.31. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. Sysco has a 12 month low of $67.12 and a 12 month high of $82.23.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). The firm had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. Equities analysts predict that Sysco will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders 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 dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, July 3rd. This is an increase from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio is 52.85%.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 356 shares of the stock in a transaction that occurred on 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 owned 12,738 shares of the company’s stock, valued at $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Sysco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC increased its position in shares of Sysco by 4.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company’s stock worth $226,000 after buying an additional 139 shares during the period. Golden State Wealth Management LLC grew its holdings in Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the period. Trust Co of the South grew its holdings in shares of Sysco by 3.0% during the second quarter. Trust Co of the South now owns 4,849 shares of the company’s stock valued at $367,000 after buying an additional 142 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Sysco by 1.6% during the first quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company’s stock valued at $627,000 after buying an additional 143 shares during the last quarter. Finally, MV Capital Management Inc. grew its holdings in shares of Sysco by 0.4% during the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock valued at $2,625,000 after buying an additional 144 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

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.