Sysco (NYSE:SYY) Price Target Cut to $83.00 by Analysts at Truist Financial

Sysco (NYSE:SYY) had its price target decreased by Truist Financial from $85.00 to $83.00 in a research report report published on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research analysts have also issued reports on SYY. Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley decreased their price objective 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. Finally, Barclays cut their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $85.21.

Sysco Stock Down 0.4 %

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

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same period last year, the company earned $0.89 EPS. As a group, sell-side analysts predict that Sysco will post 4.57 EPS for the current year.

Sysco Dividend Announcement

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

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock valued at $6,485,050 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

A number of institutional investors have recently bought and sold shares of SYY. State Street Corp lifted its position in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Sysco by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after buying an additional 422,954 shares during the period. Montrusco Bolton Investments Inc. boosted its stake in shares of Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after buying an additional 375,409 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Sysco by 4.1% in the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after acquiring an additional 168,163 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

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.