Sysco (SYY) – Research Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Sysco (NYSE: SYY) in the last few weeks:

  • 2/1/2024 – Sysco was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
  • 1/31/2024 – Sysco had its price target raised by analysts at Stephens from $80.00 to $90.00. They now have an “overweight” rating on the stock.
  • 1/31/2024 – Sysco had its price target raised by analysts at Barclays PLC from $85.00 to $90.00. They now have an “overweight” rating on the stock.
  • 1/31/2024 – Sysco had its price target raised by analysts at BMO Capital Markets from $85.00 to $90.00. They now have an “outperform” rating on the stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $80.04 on Tuesday. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The business has a 50-day simple moving average of $75.62 and a two-hundred day simple moving average of $71.38. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. The firm has a market cap of $40.37 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17.

Sysco (NYSE:SYYGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 EPS. On average, analysts expect that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.50%. Sysco’s dividend payout ratio is presently 48.90%.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 2,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $71.76, for a total transaction of $157,872.00. Following the sale, the director now directly owns 12,782 shares of the company’s stock, valued at approximately $917,236.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.58% of the company’s stock.

Institutional Trading of Sysco

Several hedge funds and other institutional investors have recently bought and sold shares of SYY. Adams Wealth Management grew its position in shares of Sysco by 23.3% during the 4th quarter. Adams Wealth Management now owns 23,080 shares of the company’s stock worth $1,688,000 after buying an additional 4,362 shares in the last quarter. Qtron Investments LLC acquired a new stake in Sysco in the fourth quarter worth about $428,000. Burkett Financial Services LLC acquired a new stake in Sysco in the fourth quarter worth about $30,000. Dorsey & Whitney Trust CO LLC boosted its holdings in Sysco by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 83,627 shares of the company’s stock worth $6,116,000 after acquiring an additional 1,659 shares in the last quarter. Finally, Isthmus Partners LLC boosted its holdings in Sysco by 4.5% in the fourth quarter. Isthmus Partners LLC now owns 146,757 shares of the company’s stock worth $10,732,000 after acquiring an additional 6,383 shares in the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.

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.

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