Sysco (NYSE:SYY) Price Target Lowered to $87.00 at UBS Group

Sysco (NYSE:SYY) had its price target trimmed by UBS Group from $92.00 to $87.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on SYY. Piper Sandler lowered their price target on Sysco from $83.00 to $79.00 and set a neutral rating for the company in a report on Wednesday. StockNews.com cut Sysco from a strong-buy rating to a buy rating in a report on Thursday, February 1st. BMO Capital Markets increased their price target on Sysco from $85.00 to $90.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Barclays increased their price target on Sysco from $85.00 to $90.00 and gave the stock an overweight rating in a report on Wednesday, January 31st. Finally, Stephens increased their price target on Sysco from $80.00 to $90.00 and gave the stock an overweight rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $84.90.

Sysco Stock Down 1.7 %

Shares of NYSE:SYY opened at $73.04 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. The business has a fifty day moving average of $78.89 and a two-hundred day moving average of $75.09. The stock has a market cap of $36.36 billion, a P/E ratio of 17.81, a PEG ratio of 1.50 and a beta of 1.16. Sysco has a 52-week low of $62.24 and a 52-week high of $82.89.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. On average, research analysts expect that Sysco will post 4.33 earnings per share for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.79%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. First United Bank & Trust purchased a new position in Sysco during the 4th quarter worth approximately $26,000. Verity & Verity LLC purchased a new position in Sysco during the 1st quarter worth approximately $26,000. AdvisorNet Financial Inc grew its stake in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after buying an additional 159 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in Sysco by 74.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after buying an additional 179 shares during the last quarter. Finally, Burkett Financial Services LLC purchased a new position in Sysco during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

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.