Somewhat Positive Media Coverage Somewhat Unlikely to Impact SYSCO (SYY) Stock Price
News coverage about SYSCO (NYSE:SYY) has trended somewhat positive this week, according to Accern. The research group identifies negative and positive media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. SYSCO earned a news sentiment score of 0.14 on Accern’s scale. Accern also assigned media stories about the company an impact score of 46.1429821499351 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the news articles that may have impacted Accern Sentiment’s scoring:
- SYSCO Co. (SYY) Shares Bought by WINTON GROUP Ltd (americanbankingnews.com)
- Lazard Asset Management LLC Has $44.26 Million Holdings in SYSCO Co. (SYY) (americanbankingnews.com)
- Amalgamated Bank Acquires 4,278 Shares of SYSCO Co. (SYY) (americanbankingnews.com)
- SYSCO Co. (SYY) Given Average Rating of “Buy” by Analysts (americanbankingnews.com)
- SYSCO Co. (SYY) Shares Bought by Farr Miller & Washington LLC DC (americanbankingnews.com)
SYSCO (NYSE:SYY) traded up $0.20 during trading on Friday, reaching $59.66. 2,363,782 shares of the company traded hands, compared to its average volume of 2,741,606. SYSCO has a 12-month low of $48.85 and a 12-month high of $64.27. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.85. The firm has a market cap of $31,137.69, a P/E ratio of 26.63, a PEG ratio of 2.00 and a beta of 0.60.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 6th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.44 annualized dividend and a yield of 2.41%. SYSCO’s dividend payout ratio (DPR) is presently 64.29%.
SYY has been the topic of several analyst reports. Bank of America lifted their price target on shares of SYSCO from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Loop Capital reduced their price target on shares of SYSCO from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Pivotal Research reduced their price target on shares of SYSCO from $68.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the company a “buy” rating in a research report on Friday, December 8th. Finally, Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.20.
In related news, EVP Wayne Shurts sold 7,800 shares of SYSCO stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $58.98, for a total value of $460,044.00. Following the completion of the sale, the executive vice president now owns 55,235 shares in the company, valued at approximately $3,257,760.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Russell T. Libby sold 13,334 shares of SYSCO stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $60.69, for a total transaction of $809,240.46. Following the completion of the sale, the insider now owns 64,394 shares of the company’s stock, valued at approximately $3,908,071.86. The disclosure for this sale can be found here. Insiders sold a total of 136,895 shares of company stock valued at $8,335,371 in the last quarter. 9.60% of the stock is owned by insiders.
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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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