SYSCO (NYSE:SYY) had its target price raised by JPMorgan Chase & Co. from $75.00 to $80.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on SYY. Consumer Edge started coverage on shares of SYSCO in a report on Wednesday, July 17th. They issued an underweight rating and a $71.75 price objective for the company. Loop Capital lifted their price objective on shares of SYSCO to $80.00 and gave the company a buy rating in a report on Wednesday, May 8th. Buckingham Research lifted their price objective on shares of SYSCO from $82.00 to $84.00 and gave the company a buy rating in a report on Tuesday, May 7th. Credit Suisse Group lifted their price objective on shares of SYSCO from $76.00 to $79.00 and gave the company an outperform rating in a report on Tuesday. Finally, Pivotal Research reaffirmed a sell rating and issued a $58.00 price objective (up previously from $54.00) on shares of SYSCO in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. SYSCO has an average rating of Hold and an average price target of $73.60.

Shares of SYSCO stock opened at $72.96 on Tuesday. 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 firm has a fifty day moving average price of $70.97 and a 200 day moving average price of $69.67. SYSCO has a 1 year low of $59.44 and a 1 year high of $75.98. The stock has a market cap of $37.15 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 1.91 and a beta of 0.52.

SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, August 12th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The company had revenue of $15.47 billion during the quarter, compared to analysts’ expectations of $15.65 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities analysts expect that SYSCO will post 3.82 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.39 dividend. The ex-dividend date 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%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Krane Funds Advisors LLC purchased a new stake in shares of SYSCO during the second quarter worth about $25,000. Advisors Preferred LLC acquired a new position in SYSCO during the first quarter worth about $26,000. SRS Capital Advisors Inc. acquired a new position in SYSCO during the second quarter worth about $28,000. Coastal Capital Group Inc. acquired a new position in SYSCO during the second quarter worth about $29,000. Finally, Neo Ivy Capital Management acquired a new position in SYSCO during the second quarter worth about $32,000. 78.30% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for SYSCO (NYSE:SYY)

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