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

Sysco (NYSE:SYY) had its price objective decreased by UBS Group from $92.00 to $87.00 in a research report sent to investors on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

SYY has been the topic of a number of other reports. Barclays boosted their price target on shares of Sysco from $85.00 to $90.00 and gave the company an overweight rating in a research note on Wednesday, January 31st. BMO Capital Markets raised their price target on Sysco from $85.00 to $90.00 and gave the stock an outperform rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their price objective on Sysco from $84.00 to $87.00 and gave the company an overweight rating in a report on Tuesday, March 19th. Stephens lifted their target price on Sysco from $80.00 to $90.00 and gave the company an overweight rating in a research report on Wednesday, January 31st. Finally, Piper Sandler reduced their price target on shares of Sysco from $83.00 to $79.00 and set a neutral rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $84.56.

Sysco Price Performance

Sysco stock opened at $75.36 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 5.77. The stock has a market cap of $37.52 billion, a P/E ratio of 18.38, a PEG ratio of 1.48 and a beta of 1.16. The company has a 50-day moving average price of $78.76 and a 200 day moving average price of $75.09. Sysco has a 12-month low of $62.24 and a 12-month high of $82.89.

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

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a $0.51 dividend. The ex-dividend date is Friday, July 5th. This is a boost from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Insider Transactions at Sysco

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

Institutional Investors Weigh In On Sysco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in shares of Sysco by 1.2% during the third quarter. Commonwealth Equity Services LLC now owns 323,526 shares of the company’s stock worth $21,369,000 after buying an additional 3,897 shares during the period. SVB Wealth LLC grew its position in Sysco by 3.8% in the 3rd quarter. SVB Wealth LLC now owns 20,464 shares of the company’s stock valued at $1,352,000 after buying an additional 743 shares during the last quarter. Hexagon Capital Partners LLC raised its position 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. 1834 Investment Advisors Co. raised its holdings in Sysco by 28.7% during the third quarter. 1834 Investment Advisors Co. now owns 13,000 shares of the company’s stock worth $859,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Sysco by 2.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 10,359 shares of the company’s stock worth $684,000 after buying an additional 233 shares in the last quarter. 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.