Sysco Co. (NYSE:SYY) Short Interest Update

Sysco Co. (NYSE:SYY) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 13,890,000 shares, a decrease of 15.6% from the September 30th total of 16,460,000 shares. Based on an average daily trading volume, of 3,290,000 shares, the days-to-cover ratio is presently 4.2 days. Currently, 2.8% of the company’s shares are sold short.

Sysco Stock Up 0.2 %

SYY stock traded up $0.14 during midday trading on Wednesday, hitting $74.31. The stock had a trading volume of 4,986,525 shares, compared to its average volume of 3,171,321. The business has a 50-day moving average of $76.28 and a two-hundred day moving average of $74.74. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The firm has a market cap of $36.50 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. Sysco has a 52-week low of $64.28 and a 52-week high of $82.89.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the prior year, the company earned $1.07 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Sysco will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. Sysco’s payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SYY shares. JPMorgan Chase & Co. raised their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Bank of America cut their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Barclays upped their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company cut their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group boosted their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $85.77.

Institutional Trading of Sysco

Hedge funds have recently made changes to their positions in the stock. ORG Partners LLC grew its position in Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares during the last quarter. Mizuho Markets Americas LLC increased its position in shares of Sysco by 102.1% during the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after acquiring an additional 70,660 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after acquiring an additional 18,296 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in Sysco in the 1st quarter worth approximately $1,677,000. Finally, Shell Asset Management Co. lifted its position in Sysco by 205.0% in the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after acquiring an additional 9,615 shares in the last quarter. 83.41% of the stock is 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.