Sysco (NYSE:SYY – Get Free Report) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.
A number of other brokerages have also commented on SYY. Bank of America lowered their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Truist Financial dropped their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Barclays upped 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. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, May 28th. Finally, Morgan Stanley cut their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.55.
Get Our Latest Analysis on SYY
Sysco Stock Up 0.3 %
Sysco (NYSE:SYY – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. The company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.34 EPS. As a group, sell-side analysts predict that Sysco will post 4.6 earnings per share for the current year.
Institutional Investors Weigh In On Sysco
A number of institutional investors have recently bought and sold shares of SYY. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the 2nd quarter valued at about $25,000. Burkett Financial Services LLC bought a new stake in shares of Sysco in the 4th quarter valued at approximately $30,000. OFI Invest Asset Management bought a new stake in shares of Sysco in the 1st quarter valued at approximately $31,000. Fairscale Capital LLC acquired a new position in shares of Sysco in the 2nd quarter worth approximately $38,000. Finally, Fairman Group LLC acquired a new stake in Sysco in the 4th quarter valued at $39,000. Institutional investors and hedge funds 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.
Recommended Stories
- Five stocks we like better than Sysco
- The Risks of Owning Bonds
- Biohaven Stock Soars on Drug Trial Results: Time to Jump In?
- How to Invest in Blue Chip Stocks
- Is AMD a Legitimate Threat to NVIDIA? What Investors Should Watch
- Quiet Period Expirations Explained
- Novo Nordisk’s Setback Won’t Last: A Game-Changing Drug Emerges
Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.