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

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

A number of other analysts also recently issued reports on SYY. Wells Fargo & Company decreased their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Truist Financial cut their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. UBS Group cut their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.38.

Sysco Stock Up 1.1 %

SYY traded up $0.84 on Tuesday, hitting $74.49. 4,436,632 shares of the company were exchanged, compared to its average volume of 3,758,489. The firm has a 50-day moving average price of $73.78 and a two-hundred day moving average price of $75.66. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The company has a market cap of $36.44 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. Sysco has a twelve month low of $69.03 and a twelve month high of $82.33.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the business earned $0.89 EPS. On average, equities analysts predict that Sysco will post 4.58 earnings per share for the current year.

Insider Transactions at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,370 shares of company stock worth $5,965,519. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sysco

Several hedge funds and other institutional investors have recently bought and sold shares of SYY. Boston Partners boosted its stake in shares of Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the period. Norges Bank acquired a new stake in shares of Sysco during the fourth quarter valued at about $450,441,000. State Street Corp increased its position in shares of Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after acquiring an additional 2,721,449 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Sysco by 27.3% in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in Sysco in the third quarter valued at about $137,900,000. 83.41% of the stock is owned by institutional investors and hedge funds.

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.