Sysco (NYSE:SYY) Trading Down 3.5% - What's Next?

Shares of Sysco Co. (NYSE:SYY - Get Free Report) were down 3.5% during trading on Wednesday . The company traded as low as $71.76 and last traded at $71.75. Approximately 713,815 shares traded hands 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

A number of brokerages have issued reports on SYY. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday. UBS Group lowered their price objective on shares of Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Melius Research raised Sysco to a "hold" rating in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their target price on shares of Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Melius began coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $84.77.

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Sysco Stock Performance

The company has a market cap of $34.79 billion, a PE ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The business has a 50-day moving average of $73.10 and a 200 day moving average of $75.32.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 posted $0.89 EPS. Equities research analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company 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 2.87%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio is presently 52.44%.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company's stock in a transaction dated 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 directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

Institutional Trading of Sysco

Institutional investors and hedge funds have recently made changes to their positions in the business. Parvin Asset Management LLC purchased a new position in Sysco during the 4th quarter valued at about $29,000. Stonebridge Financial Group LLC purchased a new stake in Sysco during the 4th quarter valued at about $31,000. Sherman Asset Management Inc. acquired a new position in shares of Sysco in the fourth quarter valued at about $31,000. Flagship Wealth Advisors LLC purchased a new position in Sysco during the 4th quarter worth approximately $31,000. Finally, SRS Capital Advisors Inc. lifted its position in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after purchasing an additional 149 shares during the period. 83.41% of the stock is currently owned by institutional investors.

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.