Sysco (NYSE:SYY) Trading Up 4.1%

Shares of Sysco Co. (NYSE:SYY) were up 4.1% during mid-day trading on Tuesday . The company traded as high as $76.51 and last traded at $76.30. Approximately 2,893,630 shares traded hands during trading, a decline of 7% from the average daily volume of 3,095,537 shares. The stock had previously closed at $73.26.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SYY shares. UBS Group dropped their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets lowered their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Piper Sandler lowered their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Truist Financial lowered their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Finally, Bank of America lowered their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Sysco Trading Up 4.7 %

The company’s 50-day moving average is $72.24 and its 200-day moving average is $76.07. The firm has a market cap of $38.19 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 1.96 and a beta of 1.18. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. The business had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. On average, research analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TruNorth Capital Management LLC acquired a new position in Sysco during the 2nd quarter valued at about $25,000. First United Bank & Trust acquired a new position in Sysco during the 4th quarter valued at about $26,000. Verity & Verity LLC acquired a new position in Sysco during the 1st quarter valued at about $26,000. AdvisorNet Financial Inc lifted its position in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the period. Finally, Burkett Financial Services LLC acquired a new position in Sysco during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

About Sysco

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.