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.
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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