Sysco (NYSE:SYY) Rating Lowered to Buy at StockNews.com

StockNews.com cut shares of Sysco (NYSE:SYY) from a strong-buy rating to a buy rating in a research report sent to investors on Monday.

A number of other equities research analysts also recently commented on SYY. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Bank of America reduced their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Morgan Stanley dropped their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. JPMorgan Chase & Co. raised their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Truist Financial cut their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Trading Down 0.3 %

Shares of SYY opened at $74.37 on Monday. Sysco has a 1-year low of $64.28 and a 1-year high of $82.89. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The firm has a 50 day simple moving average of $76.51 and a 200-day simple moving average of $74.82. The stock has a market cap of $36.53 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.34 earnings per share. Equities analysts forecast that Sysco will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. Sysco’s payout ratio is 52.44%.

Institutional Trading of Sysco

Large investors have recently added to or reduced their stakes in the stock. Plimoth Trust Co. LLC grew its stake in shares of Sysco by 0.6% in the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after buying an additional 139 shares in the last quarter. Meeder Advisory Services Inc. grew its position in Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after acquiring an additional 141 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Sysco by 3.1% during the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares in the last quarter. NorthRock Partners LLC boosted its stake in shares of Sysco by 3.7% in the first quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock valued at $335,000 after purchasing an additional 147 shares during the period. Finally, Winthrop Advisory Group LLC grew its holdings in Sysco by 3.7% during the 1st quarter. Winthrop Advisory Group LLC now owns 4,120 shares of the company’s stock valued at $334,000 after purchasing an additional 148 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

About Sysco

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.