UBS Group Cuts Sysco (NYSE:SYY) Price Target to $86.00

Sysco (NYSE:SYY) had its price objective reduced by UBS Group from $87.00 to $86.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on SYY. Melius initiated coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Barclays decreased their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley lowered their price objective on Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Finally, Truist Financial reduced their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $84.85.

Sysco Stock Down 0.7 %

NYSE:SYY opened at $72.79 on Wednesday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.73. The firm’s 50-day moving average price is $76.36 and its 200-day moving average price is $75.98. The company has a market capitalization of $35.76 billion, a PE ratio of 18.71, a P/E/G ratio of 1.96 and a beta of 1.18. Sysco has a 1-year low of $69.03 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last announced its earnings results 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 net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, equities analysts predict that Sysco will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the transaction, the executive vice president now owns 60,581 shares in the company, valued at $4,846,480. This trade represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,270 shares of company stock valued at $6,181,946. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Sysco

Large investors have recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. lifted its stake in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Sysco in the third quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco in the third quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco during the fourth quarter worth about $31,000. Finally, Focused Wealth Management Inc bought a new stake in Sysco during the 3rd quarter valued at approximately $37,000. 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.