StockNews.com upgraded shares of Sysco (NYSE:SYY – Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday.
A number of other analysts have also recently issued reports on SYY. BMO Capital Markets decreased their target price on Sysco from $90.00 to $85.00 and set an outperform rating for the company in a report on Thursday, May 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Sysco from $87.00 to $85.00 and set an overweight rating for the company in a research report on Thursday, May 23rd. Bank of America reduced their target price on shares of Sysco from $91.00 to $87.00 and set a buy rating on the stock in a report on Thursday, July 18th. Guggenheim upgraded Sysco from a neutral rating to a buy rating and set a $85.00 price target for the company in a report on Tuesday, May 28th. Finally, Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an equal weight rating on the stock in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $85.27.
Read Our Latest Research Report on SYY
Sysco Trading Up 1.2 %
Sysco (NYSE:SYY – Get Free Report) last posted 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. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter last year, the firm posted $1.34 earnings per share. Sysco’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Sysco will post 4.59 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of SYY. TruNorth Capital Management LLC acquired a new position in shares of Sysco in the 2nd quarter valued at approximately $25,000. First United Bank & Trust bought a new stake in shares of Sysco in the fourth quarter worth $26,000. AdvisorNet Financial Inc increased its stake in shares of Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after buying an additional 159 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Sysco in the first quarter valued at $31,000. Finally, Burkett Financial Services LLC bought a new position in Sysco during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.
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.
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