Sysco (NYSE:SYY) Stock Price Down 4%

Sysco Co. (NYSE:SYY) traded down 4% during mid-day trading on Wednesday . The stock traded as low as $74.33 and last traded at $74.66. 2,467,311 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 3,066,875 shares. The stock had previously closed at $77.78.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Truist Financial decreased their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday. Barclays raised their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.55.

Sysco Stock Performance

The firm’s fifty day moving average price is $75.81 and its 200-day moving average price is $75.60. The company has a market cap of $36.44 billion, a P/E ratio of 18.08, a P/E/G ratio of 2.01 and a beta of 1.20. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts forecast that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Institutional Trading of Sysco

Institutional investors have recently bought and sold shares of the stock. Accretive Wealth Partners LLC grew its holdings in shares of Sysco by 1.0% in the 4th quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock worth $1,593,000 after purchasing an additional 212 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of Sysco by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock worth $352,000 after buying an additional 1,710 shares in the last quarter. Gladstone Institutional Advisory LLC raised its stake in shares of Sysco by 10.6% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,429 shares of the company’s stock valued at $324,000 after acquiring an additional 425 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Sysco by 28.3% in the 4th quarter. Franklin Resources Inc. now owns 424,407 shares of the company’s stock worth $31,037,000 after acquiring an additional 93,628 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Sysco by 8.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,824 shares of the company’s stock worth $133,000 after acquiring an additional 142 shares during the last quarter. 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.