Sysco Co. (NYSE:SYY) Short Interest Update


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Sysco Co. (NYSE:SYY) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 4,770,000 shares, a decline 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 days-to-cover ratio is presently 2.2 days. Currently, 0.9% of the company’s stock are sold short.

Sysco stock traded down $0.86 during mid-day trading on Tuesday, hitting $83.18. 3,142,680 shares of the company’s stock traded hands, 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. Sysco has a one year low of $44.17 and a one year high of $85.15. The firm has a 50 day moving average price of $80.83 and a 200 day moving average price of $74.96. The company has a market cap of $42.46 billion, a PE ratio of -1,188.12, a price-to-earnings-growth ratio of 3.79 and a beta of 1.38.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, May 4th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $11.82 billion for the quarter, compared to analysts’ expectations of $12.02 billion. Sysco had a negative net margin of 0.04% and a positive return on equity of 39.64%. The company’s revenue was down 13.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. On average, analysts expect that Sysco will post 1.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 23rd. Stockholders of record on Thursday, April 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Wednesday, March 31st. Sysco’s dividend payout ratio (DPR) is presently 89.55%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Core Wealth Advisors Inc. acquired a new stake in Sysco in the fourth quarter worth approximately $26,000. Piscataqua Savings Bank acquired a new stake in Sysco during the 1st quarter worth about $26,000. tru Independence LLC purchased a new stake in Sysco during the fourth quarter valued at about $31,000. SOA Wealth Advisors LLC. acquired a new position in shares of Sysco in the fourth quarter worth about $31,000. Finally, Bogart Wealth LLC acquired a new position in shares of Sysco in the first quarter worth about $31,000. Institutional investors and hedge funds own 81.02% of the company’s stock.

Several research firms have issued reports on SYY. Zacks Investment Research downgraded Sysco from a “hold” rating to a “sell” rating and set a $77.00 price objective on the stock. in a report on Wednesday, February 3rd. Piper Sandler upped their price target on shares of Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, March 18th. Wells Fargo & Company raised their price objective on shares of Sysco from $89.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley upped their target price on shares of Sysco from $76.00 to $81.00 and gave the company an “equal weight” rating in a research note on Monday, April 19th. Finally, JPMorgan Chase & Co. lifted their price target on Sysco from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, April 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Sysco has a consensus rating of “Hold” and an average price target of $80.22.

Sysco Company Profile

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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