Shares of SYSCO Co. (NYSE:SYY) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $73.60.
SYY has been the subject of several research analyst reports. Zacks Investment Research downgraded SYSCO from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Tuesday, June 11th. JPMorgan Chase & Co. upped their price target on SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday. Pivotal Research restated a “sell” rating and set a $58.00 price target (up previously from $54.00) on shares of SYSCO in a research note on Tuesday, May 7th. ValuEngine upgraded SYSCO from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. Finally, Credit Suisse Group upped their price target on SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Tuesday.
Shares of SYSCO stock traded up $0.71 on Friday, reaching $72.96. 6,679,500 shares of the company were exchanged, compared to its average volume of 3,210,224. SYSCO has a 1-year low of $59.44 and a 1-year high of $75.98. The company has a market cap of $37.15 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.91 and a beta of 0.52. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.33 and a quick ratio of 0.79. The stock’s 50 day moving average price is $70.97 and its 200-day moving average price is $69.67.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is presently 43.94%.
Institutional investors have recently added to or reduced their stakes in the company. Krane Funds Advisors LLC purchased a new position in SYSCO in the second quarter worth $25,000. Advisors Preferred LLC acquired a new stake in SYSCO in the first quarter valued at $26,000. SRS Capital Advisors Inc. acquired a new stake in SYSCO in the second quarter valued at $28,000. Coastal Capital Group Inc. acquired a new stake in SYSCO in the second quarter valued at $29,000. Finally, Neo Ivy Capital Management acquired a new stake in SYSCO in the second quarter valued at $32,000. Institutional investors and hedge funds own 78.30% of the company’s stock.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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