Sysco (NYSE:SYY) Raised to "Hold" at Citigroup

Citigroup upgraded shares of Sysco (NYSE:SYY - Free Report) to a hold rating in a research note published on Thursday, MarketBeat Ratings reports.

A number of other equities analysts have also issued reports on the stock. Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley decreased their price objective on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Guggenheim reissued a "buy" rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Finally, Barclays decreased their price target on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $83.00.

Sysco Trading Up 1.1%

Shares of SYY stock traded up $0.76 during trading hours on Thursday, hitting $72.23. The company had a trading volume of 2,943,337 shares, compared to its average volume of 3,350,394. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market capitalization of $35.01 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The company's fifty day moving average is $71.64 and its 200 day moving average is $73.86. Sysco has a fifty-two week low of $67.12 and a fifty-two week high of $82.23.

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

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Thursday, July 3rd. This is a positive change from Sysco's previous quarterly dividend of $0.51. Sysco's payout ratio is 55.96%.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Sysco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rialto Wealth Management LLC lifted its stake in shares of Sysco by 188.7% in the 1st 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 period. Parvin Asset Management LLC bought a new stake in Sysco during the fourth quarter worth approximately $29,000. Stonebridge Financial Group LLC acquired a new stake in Sysco in the fourth quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new stake in Sysco in the fourth quarter worth approximately $31,000. Finally, Flagship Wealth Advisors LLC bought a new position in Sysco during the 4th quarter valued at $31,000. 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.