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

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

A number of other brokerages have also recently commented on SYY. Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Morgan Stanley reduced their price target on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. 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 note on Wednesday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.21.

Sysco Price Performance

Shares of NYSE SYY opened at $71.96 on Wednesday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The business has a 50-day moving average of $76.43 and a 200-day moving average of $76.03. The stock has a market capitalization of $35.35 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 2.04 and a beta of 1.18. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly 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 return on equity of 101.04% and a net margin of 2.44%. During the same period in the prior year, the business earned $0.89 earnings per share. As a group, sell-side analysts predict that Sysco will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. Sysco’s payout ratio is presently 52.44%.

Insider Activity

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco 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 transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,306 shares of company stock worth $6,485,050. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Sysco

A number of institutional investors and hedge funds have recently made changes to their positions in SYY. Public Sector Pension Investment Board raised its position in Sysco by 87.2% during the second quarter. Public Sector Pension Investment Board now owns 19,187 shares of the company’s stock valued at $1,370,000 after purchasing an additional 8,940 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sysco by 58.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 63,387 shares of the company’s stock worth $4,525,000 after buying an additional 23,321 shares in the last quarter. Quarry LP lifted its position in shares of Sysco by 260.7% during the 2nd quarter. Quarry LP now owns 1,248 shares of the company’s stock worth $89,000 after buying an additional 902 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Sysco by 18.8% in the second quarter. EP Wealth Advisors LLC now owns 9,926 shares of the company’s stock valued at $709,000 after buying an additional 1,570 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Sysco by 2.7% in the second quarter. Cetera Investment Advisers now owns 292,770 shares of the company’s stock valued at $20,901,000 after acquiring an additional 7,758 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

About Sysco

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.