Sysco (NYSE:SYY) Upgraded by Citigroup to "Hold" Rating

Citigroup upgraded shares of Sysco (NYSE:SYY - Free Report) to a hold rating in a report issued on Thursday, May 22nd, MarketBeat reports.

SYY has been the topic of several other research reports. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. UBS Group decreased their price target on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Finally, BMO Capital Markets dropped their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $83.00.

Sysco Stock Up 0.6%

Shares of SYY traded up $0.43 during mid-day trading on Thursday, hitting $71.94. The company's stock had a trading volume of 1,070,075 shares, compared to its average volume of 3,333,423. Sysco has a 52-week low of $67.12 and a 52-week high of $82.23. The company's 50-day moving average is $71.67 and its 200-day moving average is $73.84. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a market capitalization of $34.87 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.88 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. During the same period in the previous year, the company earned $0.96 EPS. The company's revenue was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that Sysco will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This is a positive change from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 3.00%. Sysco's dividend payout ratio (DPR) is 55.96%.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director now directly owns 12,738 shares of the company's stock, valued at $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Sysco

Hedge funds and other institutional investors have recently modified their holdings of the business. Rialto Wealth Management LLC increased its position in shares of Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after acquiring an additional 217 shares during the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Sysco during the fourth quarter worth about $29,000. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco during the fourth quarter worth about $31,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco during the fourth quarter worth about $31,000. Finally, Sherman Asset Management Inc. purchased a new stake in shares of Sysco during the fourth quarter worth about $31,000. 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.