Sysco (NYSE:SYY) Stock Price Up 3.1% – Still a Buy?

Sysco Co. (NYSE:SYY)’s share price rose 3.1% during mid-day trading on Wednesday . The company traded as high as $72.70 and last traded at $72.58. Approximately 1,782,544 shares changed hands during trading, a decline of 43% from the average daily volume of 3,131,805 shares. The stock had previously closed at $70.39.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SYY shares. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Guggenheim reiterated a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Melius started coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Jefferies Financial Group upped their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. cut their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Stock Performance

The company’s 50 day simple moving average is $72.97 and its 200 day simple moving average is $75.18. The stock has a market cap of $36.25 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting 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 period in the prior year, the company posted $0.89 EPS. Analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed 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 2.75%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated 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. The trade was a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Sysco

Several hedge funds and other institutional investors have recently modified their holdings of SYY. Parvin Asset Management LLC purchased a new stake in shares of Sysco during the fourth quarter worth $29,000. Stonebridge Financial Group LLC bought a new position in Sysco in the 4th quarter worth about $31,000. Sherman Asset Management Inc. purchased a new position in Sysco during the 4th quarter valued at about $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco during the fourth quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares in the last quarter. 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.