Sysco (NYSE:SYY) Receives “Buy” Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Sysco (NYSE:SYY) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $85.00 price target on the stock.

Several other research analysts have also recently weighed in on SYY. Melius assumed coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Barclays reduced their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company dropped their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, UBS Group lowered their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.85.

Sysco Price Performance

SYY stock opened at $72.79 on Wednesday. The company has a market capitalization of $35.76 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18. Sysco has a 52-week low of $69.03 and a 52-week high of $82.89. The business has a 50-day simple moving average of $76.36 and a two-hundred day simple moving average of $75.98. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.73 and a current ratio of 1.20.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 company earned $0.89 earnings per share. Research analysts expect that Sysco will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s payout ratio is currently 52.44%.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction dated Tuesday, November 19th. The stock was 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. The trade was a 18.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,270 shares of company stock valued at $6,181,946. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Sysco

Several hedge funds have recently bought and sold shares of the company. National Pension Service boosted its holdings in Sysco by 15.6% in the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after purchasing an additional 166,798 shares during the period. New England Asset Management Inc. boosted its stake in Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after buying an additional 14,810 shares during the period. Empowered Funds LLC grew its position in Sysco by 29.0% during the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after buying an additional 17,587 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after acquiring an additional 8,891 shares in the last quarter. Hedge funds and other 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.