Sysco (NYSE:SYY) Downgraded to Buy Rating by StockNews.com

StockNews.com downgraded shares of Sysco (NYSE:SYY) from a strong-buy rating to a buy rating in a report issued on Thursday morning.

Several other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Guggenheim reissued a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Jefferies Financial Group lifted 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. Melius began coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Finally, UBS Group cut their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Sysco Stock Performance

Sysco stock opened at $71.12 on Thursday. The company has a 50 day moving average price of $73.15 and a 200-day moving average price of $75.41. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The company has a market capitalization of $34.79 billion, a PE ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, equities analysts forecast that Sysco will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction 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. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

A number of large investors have recently made changes to their positions in the stock. Parvin Asset Management LLC acquired a new position in Sysco during the fourth quarter valued at $29,000. Stonebridge Financial Group LLC acquired a new position in Sysco during the fourth quarter valued at $31,000. Sherman Asset Management Inc. acquired a new position in Sysco during the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC acquired a new position in Sysco during the fourth quarter valued at $31,000. Finally, SRS Capital Advisors Inc. lifted its position in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares during the period. 83.41% of the stock is 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.