UBS Group Issues Pessimistic Forecast for Sysco (NYSE:SYY) Stock Price

Sysco (NYSE:SYY) had its price objective cut by UBS Group from $87.00 to $86.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on SYY. Wells Fargo & Company reduced their target price 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. Truist Financial decreased their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday. Morgan Stanley dropped their target price on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Finally, Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $84.85.

Sysco Trading Down 0.7 %

Shares of SYY stock opened at $72.79 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 5.66. The stock has a market capitalization of $35.76 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18. Sysco has a 12-month low of $69.03 and a 12-month high of $82.89. The stock’s 50-day moving average price is $76.36 and its 200-day moving average price is $75.98.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the business posted $0.89 EPS. Equities research analysts predict that Sysco will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.80%. 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

In other Sysco 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 sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sheila Talton sold 2,900 shares of the company’s 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 directly owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was 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 79,270 shares of company stock valued at $6,181,946 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYY. Public Sector Pension Investment Board grew its holdings in shares of Sysco by 87.2% during the second quarter. Public Sector Pension Investment Board now owns 19,187 shares of the company’s stock valued at $1,370,000 after buying an additional 8,940 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Sysco by 58.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 63,387 shares of the company’s stock valued at $4,525,000 after purchasing an additional 23,321 shares during the last quarter. Quarry LP increased its holdings in shares of Sysco by 260.7% in the second quarter. Quarry LP now owns 1,248 shares of the company’s stock valued at $89,000 after purchasing an additional 902 shares during the period. EP Wealth Advisors LLC raised its stake in shares of Sysco by 18.8% in the second quarter. EP Wealth Advisors LLC now owns 9,926 shares of the company’s stock worth $709,000 after purchasing an additional 1,570 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Sysco by 2.7% during the second quarter. Cetera Investment Advisers now owns 292,770 shares of the company’s stock worth $20,901,000 after purchasing an additional 7,758 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

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.