SYSCO Co. (NYSE:SYY) Sees Significant Decrease in Short Interest

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SYSCO Co. (NYSE:SYY) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totalling 9,780,700 shares, a decline of 7.7% from the May 30th total of 10,599,900 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average trading volume of 2,360,000 shares, the short-interest ratio is presently 4.1 days.

Shares of NYSE:SYY traded up $0.31 during trading on Monday, hitting $72.90. 73,943 shares of the company were exchanged, compared to its average volume of 2,029,385. The stock has a market capitalization of $37.46 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.94 and a beta of 0.54. SYSCO has a fifty-two week low of $59.44 and a fifty-two week high of $75.98. The firm has a fifty day simple moving average of $71.73. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44.

SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09. The firm had revenue of $14.66 billion for the quarter, compared to analyst estimates of $14.78 billion. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 EPS. As a group, sell-side analysts predict that SYSCO will post 3.5 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, July 3rd. SYSCO’s dividend payout ratio (DPR) is 49.68%.

Several equities research analysts have commented on SYY shares. JPMorgan Chase & Co. started coverage on INTL CONS AIRL/S in a research note on Tuesday, June 4th. They issued an “overweight” rating on the stock. Pivotal Research restated a “sell” rating and issued a $58.00 target price (up previously from $54.00) on shares of SYSCO in a research note on Tuesday, May 7th. Buckingham Research boosted their target price on SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. Finally, ValuEngine upgraded USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. SYSCO has a consensus rating of “Hold” and a consensus price target of $74.21.

Several large investors have recently bought and sold shares of the business. 6 Meridian grew its holdings in SYSCO by 1.8% in the 2nd quarter. 6 Meridian now owns 7,760 shares of the company’s stock valued at $549,000 after buying an additional 140 shares in the last quarter. Security National Trust Co. grew its holdings in SYSCO by 6.4% in the 1st quarter. Security National Trust Co. now owns 2,500 shares of the company’s stock valued at $167,000 after buying an additional 150 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in SYSCO by 3.4% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,623 shares of the company’s stock valued at $327,000 after buying an additional 150 shares in the last quarter. LVM Capital Management Ltd. MI grew its holdings in SYSCO by 1.4% in the 1st quarter. LVM Capital Management Ltd. MI now owns 11,284 shares of the company’s stock valued at $753,000 after buying an additional 155 shares in the last quarter. Finally, Cable Hill Partners LLC grew its holdings in SYSCO by 11.8% in the 1st quarter. Cable Hill Partners LLC now owns 1,520 shares of the company’s stock valued at $101,000 after buying an additional 161 shares in the last quarter. 77.58% of the stock is currently owned by hedge funds and other institutional investors.

About SYSCO

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. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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