Truist Financial Cuts Sysco (NYSE:SYY) Price Target to $83.00

Sysco (NYSE:SYY - Free Report) had its target price reduced by Truist Financial from $85.00 to $83.00 in a research report report published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Melius Research upgraded shares of Sysco to a "hold" rating in a report on Wednesday, December 18th. Melius began coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price target on the stock. Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $79.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 21st. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Monday. Finally, Wells Fargo & Company dropped their price objective on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $85.21.

Sysco Stock Performance

SYY traded down $0.32 during midday trading on Wednesday, hitting $71.96. 7,762,074 shares of the company traded hands, compared to its average volume of 3,438,941. The firm has a market capitalization of $35.35 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. The company's 50-day moving average is $76.43 and its 200 day moving average is $76.03. Sysco has a 52 week low of $69.03 and a 52 week high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly 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 return on equity of 101.04% and a net margin of 2.44%. During the same quarter in the previous year, the firm earned $0.89 EPS. On average, research analysts expect that Sysco will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. Sysco's dividend payout ratio (DPR) is 52.44%.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the business's 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 completion of the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Armstrong Advisory Group Inc. lifted its position in Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock worth $26,000 after buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Sysco during the third quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco in the third quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Sysco during the 4th quarter worth approximately $31,000. Finally, Focused Wealth Management Inc bought a new position in Sysco during the 3rd quarter worth $37,000. Institutional investors and hedge funds 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.