Sysco (NYSE:SYY) Trading Down 3.5% – Here’s Why

Sysco Co. (NYSE:SYY)’s share price was down 3.5% during trading on Wednesday . The stock traded as low as $71.76 and last traded at $71.75. Approximately 713,815 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 3,604,476 shares. The stock had previously closed at $74.36.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SYY. Barclays reduced their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. UBS Group reduced their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Sysco Stock Down 3.2 %

The company’s 50-day moving average price is $73.27 and its 200 day moving average price is $75.46. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock has a market cap of $35.23 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the company earned $0.89 earnings per share. As a group, analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is presently 52.44%.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

Several large investors have recently bought and sold shares of the business. Parvin Asset Management LLC bought a new position in shares of Sysco during the 4th quarter valued at approximately $29,000. Stonebridge Financial Group LLC bought a new position in Sysco during the fourth quarter valued at $31,000. Sherman Asset Management Inc. purchased a new stake in shares of Sysco in the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco in the 4th quarter worth about $31,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the period. 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.