JPMorgan Chase & Co. Has Lowered Expectations for Sysco (NYSE:SYY) Stock Price

Sysco (NYSE:SYY - Free Report) had its price objective cut by JPMorgan Chase & Co. from $86.00 to $82.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

SYY has been the topic of several other reports. UBS Group decreased their target price on shares of Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Truist Financial decreased their price objective on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Sysco from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sysco has an average rating of "Moderate Buy" and an average price target of $84.38.

Sysco Stock Performance

SYY traded down $0.13 during midday trading on Tuesday, reaching $71.13. The company's stock had a trading volume of 3,078,287 shares, compared to its average volume of 3,600,940. Sysco has a twelve month low of $69.03 and a twelve month high of $82.33. The stock has a market cap of $34.80 billion, a P/E ratio of 18.29, a PEG ratio of 1.93 and a beta of 1.18. The company has a fifty day simple moving average of $75.90 and a 200 day simple moving average of $75.92. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last released its 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 return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the firm earned $0.89 EPS. Research analysts expect that Sysco will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date was Friday, January 3rd. Sysco's payout ratio is presently 52.44%.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company's stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares of the company's stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock valued at $6,181,946 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sysco

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Sysco in the 3rd quarter valued at approximately $137,900,000. Raymond James Financial Inc. bought a new stake in Sysco in the 4th quarter valued at approximately $97,078,000. Nordea Investment Management AB boosted its position in Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company's stock worth $208,666,000 after acquiring an additional 933,327 shares during the last quarter. Finally, Amundi grew its stake in shares of Sysco by 42.2% during the 4th quarter. Amundi now owns 2,730,010 shares of the company's stock worth $204,341,000 after acquiring an additional 809,582 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

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.