Sysco (NYSE:SYY) Hits New 52-Week Low – Time to Sell?

Sysco Co. (NYSE:SYY)’s share price hit a new 52-week low on Monday . The stock traded as low as $68.69 and last traded at $69.33, with a volume of 241606 shares trading hands. The stock had previously closed at $71.44.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYY. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial decreased their target price on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Guggenheim reissued a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. UBS Group reduced their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Sysco Stock Performance

The company has a market cap of $34.14 billion, a PE ratio of 17.95, a PEG ratio of 1.88 and a beta of 0.91. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The firm’s 50 day moving average is $73.07 and its 200-day moving average is $75.04.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the firm earned $0.89 earnings per share. On average, research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. Sysco’s payout ratio is 52.44%.

Hedge Funds Weigh In On Sysco

A number of institutional investors have recently bought and sold shares of SYY. Boston Partners increased its holdings in shares of Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after buying an additional 7,184,754 shares during the last quarter. Norges Bank acquired a new stake in Sysco during the fourth quarter worth $450,441,000. Capital Research Global Investors increased its stake in Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock worth $687,488,000 after acquiring an additional 1,928,002 shares during the last quarter. Mondrian Investment Partners LTD purchased a new stake in Sysco in the fourth quarter valued at $123,928,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Sysco in the 4th quarter valued at $97,078,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.