Sysco (NYSE:SYY) Shares Up 3.1% – What’s Next?

Sysco Co. (NYSE:SYY)’s stock price rose 3.1% during mid-day trading on Wednesday . The stock traded as high as $72.70 and last traded at $72.58. Approximately 1,782,544 shares traded hands during trading, a decline of 43% from the average daily volume of 3,131,805 shares. The stock had previously closed at $70.39.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays decreased their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, UBS Group cut their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Four investment 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Sysco Stock Up 0.1 %

The company has a market capitalization of $36.25 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock’s fifty day moving average is $72.97 and its 200 day moving average is $75.18.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the company posted $0.89 EPS. Research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.75%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SYY. Fairtree Asset Management Pty Ltd purchased a new stake in shares of Sysco in the 4th quarter worth about $648,000. Wealth Enhancement Advisory Services LLC grew its holdings in Sysco by 34.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 218,578 shares of the company’s stock worth $16,712,000 after purchasing an additional 56,419 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of Sysco by 4.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company’s stock valued at $226,000 after purchasing an additional 139 shares in the last quarter. Members Wealth LLC purchased a new position in shares of Sysco during the fourth quarter valued at approximately $259,000. Finally, Capstone Triton Financial Group LLC boosted its position in shares of Sysco by 1.7% in the 4th quarter. Capstone Triton Financial Group LLC now owns 12,635 shares of the company’s stock worth $966,000 after purchasing an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

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.