Sysco (NYSE:SYY) Lowered to Buy at StockNews.com

StockNews.com cut shares of Sysco (NYSE:SYY) from a strong-buy rating to a buy rating in a report published on Monday morning.

A number of other brokerages also recently commented on SYY. Bank of America decreased their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Barclays increased their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Morgan Stanley cut their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Finally, Truist Financial decreased their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Trading Down 0.3 %

Shares of NYSE SYY opened at $74.37 on Monday. The stock has a market capitalization of $36.53 billion, a P/E ratio of 19.12, a PEG ratio of 1.95 and a beta of 1.20. The stock’s 50 day moving average price is $76.51 and its two-hundred day moving average price is $74.82. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco has a 52-week low of $64.28 and a 52-week high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 earnings per share. On average, analysts anticipate that Sysco will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. Sysco’s dividend payout ratio is currently 52.44%.

Institutional Trading of Sysco

A number of large investors have recently added to or reduced their stakes in the business. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the 2nd quarter valued at $25,000. Armstrong Advisory Group Inc. lifted its holdings in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the last quarter. Fairscale Capital LLC purchased a new position in Sysco in the 2nd quarter worth about $38,000. Canoe Financial LP acquired a new stake in Sysco during the 3rd quarter worth about $38,000. Finally, LRI Investments LLC purchased a new stake in Sysco during the first quarter valued at about $45,000. 83.41% of the stock is currently owned by institutional investors.

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.