Sysco Corporation (NYSE:SYY - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $82.45 and last traded at $82.30, with a volume of 931773 shares traded. The stock had previously closed at $80.75.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. UBS Group set a $90.00 target price on Sysco in a research report on Wednesday, July 30th. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Truist Financial increased their target price on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Morgan Stanley increased their target price on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Finally, BMO Capital Markets dropped their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.69.
Read Our Latest Report on SYY
Sysco Stock Performance
The company's 50-day moving average price is $77.21 and its two-hundred day moving average price is $73.99. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The stock has a market cap of $39.85 billion, a PE ratio of 22.04, a PEG ratio of 2.47 and a beta of 0.83.
Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter in the prior year, the company earned $1.39 EPS. The firm's revenue was up 2.8% on a year-over-year basis. On average, equities research analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.
Insiders Place Their Bets
In related news, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the sale, the executive vice president owned 30,235 shares of the company's stock, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the sale, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,740 shares of company stock valued at $6,256,893 over the last quarter. 0.54% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Sysco
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYY. 1832 Asset Management L.P. purchased a new position in Sysco during the second quarter valued at $2,287,000. CW Advisors LLC raised its stake in shares of Sysco by 381.5% in the second quarter. CW Advisors LLC now owns 58,161 shares of the company's stock worth $4,405,000 after purchasing an additional 46,083 shares during the last quarter. Benedict Financial Advisors Inc. raised its stake in shares of Sysco by 12.7% in the second quarter. Benedict Financial Advisors Inc. now owns 63,193 shares of the company's stock worth $4,786,000 after purchasing an additional 7,120 shares during the last quarter. Isthmus Partners LLC raised its stake in shares of Sysco by 0.8% in the second quarter. Isthmus Partners LLC now owns 161,113 shares of the company's stock worth $12,203,000 after purchasing an additional 1,352 shares during the last quarter. Finally, Beacon Pointe Advisors LLC raised its stake in shares of Sysco by 4.0% in the second quarter. Beacon Pointe Advisors LLC now owns 21,190 shares of the company's stock worth $1,605,000 after purchasing an additional 814 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.
Sysco Company Profile
(
Get Free Report)
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.
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