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

Sysco (NYSE:SYY) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

SYY has been the subject of a number of other reports. Bank of America reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Morgan Stanley lowered their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Truist Financial decreased their target price on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Stock Performance

NYSE:SYY opened at $76.76 on Tuesday. The firm’s fifty day simple moving average is $76.03 and its 200 day simple moving average is $75.47. Sysco has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The stock has a market cap of $38.23 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.98 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. During the same period in the previous year, the firm posted $1.34 EPS. The business’s revenue was up 4.2% on a year-over-year basis. As a group, research analysts predict that Sysco will post 4.6 EPS for the current year.

Institutional Trading of Sysco

A number of hedge funds and other institutional investors have recently bought and sold shares of SYY. Chicago Partners Investment Group LLC grew its stake in shares of Sysco by 1.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after acquiring an additional 124 shares during the period. Bell Investment Advisors Inc increased its stake in shares of Sysco by 8.2% in the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after purchasing an additional 131 shares in the last quarter. Beacon Investment Advisors LLC raised its position in shares of Sysco by 0.5% during the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after purchasing an additional 133 shares during the period. Plimoth Trust Co. LLC raised its position in shares of Sysco by 0.6% during the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after purchasing an additional 139 shares during the period. Finally, Meeder Advisory Services Inc. lifted its stake in shares of Sysco by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after buying an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

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.