StockNews.com Upgrades Sysco (NYSE:SYY) to “Strong-Buy”

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

Other analysts also recently issued research reports about the stock. Morgan Stanley decreased their price objective on shares of 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. boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays increased their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Bank of America lowered their target price 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. Finally, Truist Financial reduced their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Stock Down 0.4 %

Shares of NYSE SYY opened at $77.74 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. Sysco has a 12-month low of $62.24 and a 12-month high of $82.89. The firm’s 50-day moving average price is $76.39 and its 200-day moving average price is $75.37. The stock has a market capitalization of $38.21 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 2.02 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm 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 company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 EPS. On average, equities research analysts anticipate that Sysco will post 4.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Sysco

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp grew its position in Sysco by 8.3% during the 4th quarter. Jones Financial Companies Lllp now owns 4,331 shares of the company’s stock worth $317,000 after purchasing an additional 333 shares during the period. NEOS Investment Management LLC grew its holdings in Sysco by 36.7% during the fourth quarter. NEOS Investment Management LLC now owns 7,138 shares of the company’s stock worth $522,000 after acquiring an additional 1,917 shares during the period. Rafferty Asset Management LLC lifted its holdings in Sysco by 4.0% in the fourth quarter. Rafferty Asset Management LLC now owns 39,126 shares of the company’s stock valued at $2,861,000 after acquiring an additional 1,502 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Sysco by 1.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 56,598 shares of the company’s stock valued at $4,139,000 after acquiring an additional 669 shares during the period. Finally, Capital Research Global Investors purchased a new stake in Sysco in the 4th quarter worth approximately $227,241,000. Institutional investors and hedge funds 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.