Sysco (NYSE:SYY) Price Target Lowered to $83.00 at Truist Financial

Sysco (NYSE:SYY) had its target price decreased by Truist Financial from $85.00 to $83.00 in a research note published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities analysts also recently commented on SYY. Morgan Stanley dropped their price target on shares of Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Melius initiated coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Barclays dropped their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $85.21.

Sysco Stock Performance

Shares of SYY opened at $71.96 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco has a 12 month low of $69.03 and a 12 month high of $82.89. The company’s fifty day moving average is $76.43 and its 200-day moving average is $76.03. The firm has a market cap of $35.35 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same quarter last year, the company earned $0.89 EPS. Equities analysts expect 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 dividend on an annualized basis and a dividend 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 firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,306 shares of company stock worth $6,485,050. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

Institutional investors and hedge funds have recently made changes to their positions in the company. National Pension Service boosted its position in Sysco by 15.6% in the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after buying an additional 166,798 shares in the last quarter. New England Asset Management Inc. boosted its holdings in shares of Sysco by 12.7% in the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after acquiring an additional 14,810 shares in the last quarter. Empowered Funds LLC grew its position in Sysco by 29.0% during the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after acquiring an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in Sysco by 7.7% in the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after purchasing an additional 8,891 shares in the last quarter. Institutional investors and hedge funds 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.