SYSCO (NYSE:SYY) had its price target hoisted by Credit Suisse Group from $76.00 to $79.00 in a research note released on Tuesday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the stock.

Several other analysts have also weighed in on SYY. Loop Capital increased their price target on SYSCO to $80.00 and gave the company a buy rating in a report on Wednesday, May 8th. Pivotal Research reiterated a sell rating and issued a $58.00 target price (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. Morgan Stanley increased their target price on SYSCO from $69.00 to $72.00 and gave the stock an equal weight rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. reduced their target price on SYSCO from $77.00 to $75.00 and set an overweight rating on the stock in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. SYSCO currently has a consensus rating of Hold and an average price target of $73.60.

NYSE:SYY opened at $72.96 on Tuesday. The stock’s fifty day moving average is $70.97 and its 200 day moving average is $69.67. SYSCO has a fifty-two week low of $59.44 and a fifty-two week high of $75.98. The firm has a market capitalization of $37.50 billion, a PE ratio of 20.55, a PEG ratio of 1.96 and a beta of 0.52. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.79 and a current ratio of 1.33.

SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, August 12th. The company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.03. SYSCO had a return on equity of 76.80% and a net margin of 2.79%. The company had revenue of $15.47 billion for the quarter, compared to analyst estimates of $15.65 billion. During the same quarter in the prior year, the firm posted $0.94 EPS. SYSCO’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts forecast that SYSCO will post 3.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.14%. SYSCO’s payout ratio is 43.94%.

A number of hedge funds have recently added to or reduced their stakes in SYY. Amundi Pioneer Asset Management Inc. grew its position in shares of SYSCO by 4.3% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,057,731 shares of the company’s stock worth $74,802,000 after buying an additional 43,471 shares in the last quarter. Mutual Advisors LLC bought a new position in shares of SYSCO during the 2nd quarter worth $204,000. Smith Moore & CO. grew its position in shares of SYSCO by 2.9% during the 2nd quarter. Smith Moore & CO. now owns 13,750 shares of the company’s stock worth $972,000 after buying an additional 387 shares in the last quarter. California Public Employees Retirement System grew its position in shares of SYSCO by 23.8% during the 2nd quarter. California Public Employees Retirement System now owns 3,614,248 shares of the company’s stock worth $255,600,000 after buying an additional 695,556 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of SYSCO by 5.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 135,837 shares of the company’s stock worth $9,606,000 after buying an additional 6,471 shares in the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.

SYSCO Company Profile

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.

Further Reading: Rule of 72

Analyst Recommendations for SYSCO (NYSE:SYY)

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