Sysco (NYSE:SYY) PT Lowered to $86.00 at Deutsche Bank Aktiengesellschaft

Sysco (NYSE:SYY) had its price target lowered by Deutsche Bank Aktiengesellschaft from $90.00 to $86.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Sysco from $87.00 to $85.00 and set an overweight rating for the company in a research report on Thursday. BMO Capital Markets reduced their price objective on shares of Sysco from $90.00 to $85.00 and set an outperform rating for the company in a research report on Thursday. Stephens increased their price objective on shares of Sysco from $80.00 to $90.00 and gave the company an overweight rating in a research report on Wednesday, January 31st. UBS Group reduced their target price on shares of Sysco from $92.00 to $87.00 and set a buy rating for the company in a report on Wednesday, May 1st. Finally, Morgan Stanley lowered their price target on shares of Sysco from $84.00 to $82.00 and set an equal weight rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $85.11.

Sysco Stock Performance

NYSE SYY opened at $72.95 on Thursday. The firm has a market capitalization of $36.33 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.94 and a beta of 1.16. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The firm’s fifty day moving average price is $77.09 and its two-hundred day moving average price is $76.21. Sysco has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same period in the previous year, the business earned $0.90 EPS. Sysco’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that Sysco will post 4.3 EPS for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 2.80%. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Insider Activity at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sysco

Large investors have recently bought and sold shares of the company. WealthPlan Investment Management LLC raised its position in Sysco by 706.9% during the third quarter. WealthPlan Investment Management LLC now owns 3,381 shares of the company’s stock valued at $223,000 after purchasing an additional 2,962 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Sysco during the 3rd quarter worth $319,000. Signaturefd LLC boosted its stake in Sysco by 12.7% in the third quarter. Signaturefd LLC now owns 5,196 shares of the company’s stock valued at $343,000 after buying an additional 584 shares in the last quarter. Syon Capital LLC bought a new position in Sysco in the third quarter valued at about $399,000. Finally, NBC Securities Inc. acquired a new position in Sysco during the third quarter worth about $467,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

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.