Sysco (NYSE:SYY) Stock Price Expected to Rise, Barclays Analyst Says

Sysco (NYSE:SYY) had its price objective boosted by Barclays from $85.00 to $87.00 in a report issued on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research firms have also issued reports on SYY. JPMorgan Chase & Co. dropped their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Guggenheim reissued a “buy” rating and set a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Morgan Stanley decreased their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.92.

Sysco Trading Up 2.5 %

NYSE SYY opened at $73.25 on Tuesday. The company has a market capitalization of $35.84 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco has a 12 month low of $67.12 and a 12 month high of $82.23. The company’s fifty day moving average price is $72.72 and its two-hundred day moving average price is $74.49.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, research analysts predict that Sysco will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Institutional Investors Weigh In On Sysco

Hedge funds have recently bought and sold shares of the business. Rialto Wealth Management LLC increased its position in Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after purchasing an additional 217 shares during the last quarter. Parvin Asset Management LLC bought a new position in Sysco in the 4th quarter worth $29,000. Stonebridge Financial Group LLC bought a new stake in Sysco during the fourth quarter valued at about $31,000. Sherman Asset Management Inc. acquired a new position in shares of Sysco during the 4th quarter worth about $31,000. Finally, Flagship Wealth Advisors LLC acquired a new stake in shares of Sysco in the fourth quarter worth $31,000. 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.