Sysco (NYSE:SYY) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Sysco Co. (NYSE:SYY) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $75.61 and traded as high as $76.69. Sysco shares last traded at $76.36, with a volume of 1,604,649 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Melius assumed coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company cut their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.93.

Sysco Stock Down 0.8 %

The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The firm has a market cap of $37.51 billion, a PE ratio of 19.63, a PEG ratio of 2.10 and a beta of 1.19. The company’s 50 day moving average price is $76.91 and its two-hundred day moving average price is $75.61.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $1.07 EPS. On average, equities research analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.67%. Sysco’s payout ratio is 52.44%.

Insider Buying and Selling

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,279 shares of company stock worth $2,786,971. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sysco

A number of institutional investors and hedge funds have recently made changes to their positions in SYY. IFG Advisory LLC purchased a new stake in Sysco during the second quarter valued at approximately $366,000. Banque Cantonale Vaudoise boosted its stake in Sysco by 11.3% during the second quarter. Banque Cantonale Vaudoise now owns 9,379 shares of the company’s stock worth $669,000 after buying an additional 950 shares during the period. Van ECK Associates Corp boosted its stake in Sysco by 122.0% during the second quarter. Van ECK Associates Corp now owns 151,184 shares of the company’s stock worth $10,793,000 after buying an additional 83,087 shares during the period. Graypoint LLC increased its position in Sysco by 9.2% during the second quarter. Graypoint LLC now owns 3,657 shares of the company’s stock valued at $261,000 after acquiring an additional 307 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Sysco by 49.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,204 shares of the company’s stock worth $224,000 after purchasing an additional 1,054 shares during the period. 83.41% of the stock is owned by hedge funds and other 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.