Sysco Co. (NYSE:SYY) saw a significant drop in short interest in April. As of April 15th, there was short interest totalling 4,770,000 shares, a drop of 19.3% from the March 31st total of 5,910,000 shares. Based on an average trading volume of 2,200,000 shares, the short-interest ratio is presently 2.2 days. Currently, 0.9% of the company’s stock are short sold.
NYSE SYY traded down $0.86 on Tuesday, reaching $83.18. The stock had a trading volume of 3,142,680 shares, compared to its average volume of 2,265,460. The company has a quick ratio of 1.30, a current ratio of 1.73 and a debt-to-equity ratio of 9.56. The stock has a fifty day moving average price of $80.83 and a two-hundred day moving average price of $74.96. Sysco has a 12-month low of $44.17 and a 12-month high of $85.15. The firm has a market capitalization of $42.46 billion, a price-to-earnings ratio of -1,188.12, a P/E/G ratio of 3.79 and a beta of 1.38.
Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, May 4th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $11.82 billion for the quarter, compared to the consensus estimate of $12.02 billion. Sysco had a positive return on equity of 39.64% and a negative net margin of 0.04%. The company’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. Sell-side analysts forecast that Sysco will post 1.83 earnings per share for the current fiscal year.
Several research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Sysco from $76.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Monday, April 19th. Piper Sandler increased their price objective on Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, March 18th. Wells Fargo & Company lifted their target price on Sysco from $89.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday. Zacks Investment Research cut shares of Sysco from a “hold” rating to a “sell” rating and set a $77.00 price objective for the company. in a research note on Wednesday, February 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Sysco from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, April 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $80.22.
A number of hedge funds have recently bought and sold shares of SYY. JPMorgan Chase & Co. raised its holdings in shares of Sysco by 31.3% in the 4th quarter. JPMorgan Chase & Co. now owns 13,829,373 shares of the company’s stock valued at $1,026,969,000 after purchasing an additional 3,299,518 shares in the last quarter. Norges Bank acquired a new position in Sysco in the fourth quarter valued at approximately $351,055,000. Victory Capital Management Inc. increased its stake in Sysco by 2.4% in the first quarter. Victory Capital Management Inc. now owns 4,608,936 shares of the company’s stock valued at $362,907,000 after purchasing an additional 106,167 shares during the last quarter. Lazard Asset Management LLC lifted its position in Sysco by 41,835.4% in the fourth quarter. Lazard Asset Management LLC now owns 3,984,284 shares of the company’s stock valued at $295,872,000 after acquiring an additional 3,974,783 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Sysco by 53.7% in the fourth quarter. Morgan Stanley now owns 3,082,937 shares of the company’s stock valued at $228,939,000 after acquiring an additional 1,076,821 shares in the last quarter. 81.02% of the stock is currently owned by institutional investors.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.
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