Several other analysts have also recently issued reports on SYY. Truist Financial initiated coverage on shares of Sysco in a report on Tuesday, February 1st. They issued a buy rating and a $89.00 price target on the stock. Barclays upped their price target on shares of Sysco from $90.00 to $100.00 and gave the company an overweight rating in a report on Monday, April 25th. Piper Sandler upped their price target on shares of Sysco from $83.00 to $90.00 and gave the company an overweight rating in a report on Friday, April 8th. Morgan Stanley upped their price target on shares of Sysco from $86.00 to $94.00 in a report on Wednesday. Finally, Credit Suisse Group boosted their target price on shares of Sysco from $97.00 to $107.00 in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $92.89.
SYY opened at $84.06 on Wednesday. The firm has a market capitalization of $43.09 billion, a P/E ratio of 55.30, a P/E/G ratio of 2.47 and a beta of 1.14. The firm’s 50 day moving average is $83.39 and its 200-day moving average is $79.96. Sysco has a 52-week low of $68.05 and a 52-week high of $91.53. The company has a quick ratio of 0.78, a current ratio of 1.33 and a debt-to-equity ratio of 8.68.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 22nd. Stockholders of record on Friday, July 1st will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, June 30th. This represents a $1.96 annualized dividend and a dividend yield of 2.33%. This is a positive change from Sysco’s previous quarterly dividend of $0.47. Sysco’s dividend payout ratio is currently 123.69%.
In related news, CAO Anita A. Zielinski sold 7,221 shares of the stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $85.00, for a total value of $613,785.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 50,000 shares of the stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $90.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the executive vice president now owns 32,324 shares of the company’s stock, valued at approximately $2,909,160. The disclosure for this sale can be found here. Insiders have sold 221,427 shares of company stock valued at $19,220,747 in the last 90 days. Insiders own 0.31% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new stake in Sysco in the 4th quarter valued at about $25,000. Allegheny Financial Group LTD purchased a new stake in Sysco during the fourth quarter valued at about $31,000. KRS Capital Management LLC purchased a new stake in Sysco during the fourth quarter valued at about $31,000. DeDora Capital Inc. purchased a new stake in Sysco during the first quarter valued at about $31,000. Finally, Column Capital Advisors LLC lifted its stake in Sysco by 4,900.0% during the first quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock valued at $33,000 after buying an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 80.64% of the company’s stock.
Sysco Company Profile (Get Rating)
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.
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