Sysco (NYSE:SYY) Price Target Lowered to $85.00 at Barclays

Sysco (NYSE:SYY) had its target price trimmed by Barclays from $93.00 to $85.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley dropped their target price on shares of Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Melius started coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Finally, Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus target price of $85.21.

Sysco Stock Performance

Sysco stock opened at $71.96 on Wednesday. The firm has a 50 day simple moving average of $76.43 and a 200-day simple moving average of $76.03. Sysco has a 1-year low of $69.03 and a 1-year high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The stock has a market cap of $35.35 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18.

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 the consensus estimate of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same period last year, the business earned $0.89 earnings per share. On average, analysts expect that Sysco will post 4.57 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,306 shares of company stock valued at $6,485,050. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Sysco

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Sysco in the third quarter valued at $137,900,000. Nordea Investment Management AB boosted its stake in Sysco by 52.3% in the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after acquiring an additional 933,327 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Sysco during the third quarter worth about $44,722,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

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.