Sysco (NYSE:SYY) Now Covered by Stephens

Stephens started coverage on shares of Sysco (NYSE:SYYGet Rating) in a research note published on Thursday, The Fly reports. The firm issued an overweight rating on the stock.

A number of other research analysts have also commented on the stock. Credit Suisse Group decreased their price target on shares of Sysco from $107.00 to $100.00 and set an outperform rating on the stock in a research note on Wednesday, August 10th. JPMorgan Chase & Co. upgraded shares of Sysco from a neutral rating to an overweight rating and set a $98.00 price target on the stock in a research note on Thursday, May 26th. Barclays decreased their price target on shares of Sysco to $100.00 in a research note on Monday, August 15th. StockNews.com upgraded shares of Sysco from a buy rating to a strong-buy rating in a research note on Thursday, July 14th. Finally, Truist Financial decreased their price target on shares of Sysco from $98.00 to $92.00 and set a buy rating on the stock in a research note on Wednesday, August 10th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Sysco has a consensus rating of Moderate Buy and a consensus target price of $94.13.

Sysco Stock Down 1.4 %

Sysco stock opened at $77.38 on Thursday. The firm has a market capitalization of $39.16 billion, a PE ratio of 29.31, a P/E/G ratio of 2.10 and a beta of 1.01. The company’s 50-day moving average is $83.98 and its 200-day moving average is $83.51. Sysco has a fifty-two week low of $68.05 and a fifty-two week high of $91.53. The company has a debt-to-equity ratio of 7.28, a current ratio of 1.20 and a quick ratio of 0.69.

Sysco (NYSE:SYYGet Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. The company had revenue of $18.96 billion for the quarter, compared to analyst estimates of $18.29 billion. Sysco had a net margin of 1.98% and a return on equity of 119.55%. Sysco’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. Sell-side analysts anticipate that Sysco will post 4.2 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, October 6th. Sysco’s dividend payout ratio (DPR) is presently 74.24%.

Institutional Trading of Sysco

Institutional investors and hedge funds have recently made changes to their positions in the company. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Sysco during the 2nd quarter worth approximately $26,000. Charter Oak Capital Management LLC bought a new stake in shares of Sysco during the 2nd quarter worth approximately $27,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Sysco during the 1st quarter worth approximately $29,000. DeDora Capital Inc. acquired a new position in Sysco during the 1st quarter worth approximately $31,000. Finally, Column Capital Advisors LLC increased its position in Sysco by 4,900.0% during the 1st quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock worth $33,000 after purchasing an additional 392 shares in the last quarter. Institutional investors own 82.43% of the company’s stock.

Sysco Company Profile

(Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Analyst Recommendations for Sysco (NYSE:SYY)

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