Traders Buy SYSCO (SYY) on Weakness

Traders bought shares of SYSCO Co. (NYSE:SYY) on weakness during trading hours on Monday. $77.10 million flowed into the stock on the tick-up and $20.64 million flowed out of the stock on the tick-down, for a money net flow of $56.46 million into the stock. Of all equities tracked, SYSCO had the 4th highest net in-flow for the day. SYSCO traded down ($0.20) for the day and closed at $58.13

A number of equities research analysts have issued reports on SYY shares. Pivotal Research reissued a “hold” rating and set a $53.00 target price on shares of SYSCO in a report on Sunday, November 5th. Zacks Investment Research cut shares of SYSCO from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. BMO Capital Markets set a $66.00 target price on shares of SYSCO and gave the company a “buy” rating in a report on Friday, December 8th. Loop Capital boosted their target price on shares of SYSCO to $68.00 and gave the company a “buy” rating in a report on Monday, December 11th. Finally, Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 target price on the stock in a report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $65.20.

The stock has a market capitalization of $30,339.14, a PE ratio of 26.08, a P/E/G ratio of 1.95 and a beta of 0.56. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38.

SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, February 5th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.15 billion. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 EPS. sell-side analysts predict that SYSCO Co. will post 2.95 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 5th were given a dividend of $0.36 per share. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, January 4th. SYSCO’s payout ratio is 64.29%.

In other news, insider Wayne Shurts sold 15,600 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $61.44, for a total transaction of $958,464.00. Following the completion of the transaction, the insider now directly owns 55,235 shares in the company, valued at approximately $3,393,638.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William W. Goetz sold 11,323 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total transaction of $702,026.00. Following the transaction, the senior vice president now owns 35,825 shares of the company’s stock, valued at $2,221,150. The disclosure for this sale can be found here. Insiders have sold a total of 144,695 shares of company stock valued at $8,759,223 over the last 90 days. Company insiders own 9.60% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its position in SYSCO by 2.0% in the third quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock worth $563,890,000 after acquiring an additional 208,815 shares in the last quarter. Parnassus Investments CA grew its position in SYSCO by 1.8% in the fourth quarter. Parnassus Investments CA now owns 7,547,366 shares of the company’s stock worth $458,352,000 after acquiring an additional 136,965 shares in the last quarter. American Century Companies Inc. grew its position in SYSCO by 7.5% in the fourth quarter. American Century Companies Inc. now owns 6,578,176 shares of the company’s stock worth $399,493,000 after acquiring an additional 457,259 shares in the last quarter. Janus Henderson Group PLC grew its position in SYSCO by 4.6% in the third quarter. Janus Henderson Group PLC now owns 5,969,351 shares of the company’s stock worth $322,047,000 after acquiring an additional 261,748 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in SYSCO by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 5,707,166 shares of the company’s stock worth $307,903,000 after acquiring an additional 51,159 shares in the last quarter. Institutional investors own 79.35% of the company’s stock.

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SYSCO Company Profile

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

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