Sysco (NYSE:SYY) Receives Buy Rating from Guggenheim

Guggenheim reissued their buy rating on shares of Sysco (NYSE:SYY) in a report released on Wednesday morning,Benzinga reports. Guggenheim currently has a $85.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on SYY. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays lowered their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, UBS Group lowered their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.21.

Sysco Stock Down 0.4 %

SYY opened at $71.96 on Wednesday. The business’s fifty day simple moving average is $76.43 and its 200 day simple moving average is $76.03. Sysco has a 52 week low of $69.03 and a 52 week high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The stock has a market cap of $35.35 billion, a PE ratio of 18.50, a P/E/G ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same quarter in the previous year, the business posted $0.89 EPS. As a group, research analysts expect that Sysco will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio is 52.44%.

Insider Activity

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction dated Tuesday, November 19th. The shares were 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 sold 83,306 shares of company stock valued at $6,485,050 in the last quarter. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sysco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYY. State Street Corp raised its position in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares in the last quarter. Primecap Management Co. CA raised its holdings in Sysco by 9.7% during the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after acquiring an additional 422,954 shares during the period. Montrusco Bolton Investments Inc. boosted its stake in shares of Sysco by 8.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after acquiring an additional 375,409 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Sysco by 4.1% during the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after purchasing an additional 168,163 shares in the last quarter. Institutional investors 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.