Short Interest in SYSCO Co. (NYSE:SYY) Drops By 7.7%

SYSCO Co. (NYSE:SYY) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 9,780,700 shares, a decline of 7.7% from the May 30th total of 10,599,900 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average daily volume of 2,360,000 shares, the short-interest ratio is currently 4.1 days.

NYSE SYY traded up $0.61 during trading hours on Friday, hitting $72.59. 2,197,812 shares of the company’s stock traded hands, compared to its average volume of 2,000,232. The stock has a fifty day simple moving average of $71.73. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.79. The firm has a market capitalization of $37.31 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 1.94 and a beta of 0.53. SYSCO has a 52 week low of $59.44 and a 52 week high of $75.98.

SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.09. The business had revenue of $14.66 billion during the quarter, compared to analyst estimates of $14.78 billion. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. As a group, equities analysts predict that SYSCO will post 3.5 earnings per share for the current fiscal year.

The company 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 $0.39 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.15%. SYSCO’s payout ratio is currently 49.68%.

SYY has been the subject of several research reports. JPMorgan Chase & Co. initiated coverage on shares of INTL CONS AIRL/S in a report on Tuesday, June 4th. They set an “overweight” rating for the company. Loop Capital boosted their target price on shares of SYSCO to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Buckingham Research boosted their target price on shares of SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Finally, ValuEngine upgraded shares of USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. SYSCO currently has a consensus rating of “Hold” and a consensus target price of $74.21.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Preferred LLC bought a new position in shares of SYSCO in the first quarter worth approximately $26,000. Sontag Advisory LLC bought a new position in shares of SYSCO in the fourth quarter worth approximately $25,000. Valley National Advisers Inc. boosted its position in shares of SYSCO by 60.5% during the fourth quarter. Valley National Advisers Inc. now owns 472 shares of the company’s stock worth $30,000 after acquiring an additional 178 shares during the last quarter. Lenox Wealth Management Inc. boosted its position in shares of SYSCO by 163.7% during the first quarter. Lenox Wealth Management Inc. now owns 480 shares of the company’s stock worth $32,000 after acquiring an additional 298 shares during the last quarter. Finally, Semmax Financial Advisors Inc. bought a new position in shares of SYSCO during the fourth quarter worth $31,000. Institutional investors and hedge funds own 77.54% of the company’s stock.

SYSCO Company Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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