Sysco (NYSE:SYY) Lowered to “Buy” Rating by StockNews.com

StockNews.com lowered shares of Sysco (NYSE:SYY) from a strong-buy rating to a buy rating in a report released on Tuesday.

A number of other equities research analysts have also recently commented on the company. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Barclays decreased their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Morgan Stanley decreased their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Finally, 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 research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Sysco Price Performance

Shares of SYY stock opened at $74.49 on Tuesday. Sysco has a 1-year low of $69.03 and a 1-year high of $82.33. The stock’s 50-day moving average is $73.78 and its 200 day moving average is $75.66. The company has a market cap of $36.44 billion, a P/E ratio of 19.15, a PEG ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the company earned $0.89 EPS. Research analysts predict that Sysco will post 4.58 earnings per share for the current fiscal year.

Insider Transactions at Sysco

In related news, 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 sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. This represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock worth $5,965,519 over the last 90 days. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of Sysco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Sysco during the third quarter valued at $26,000. Parvin Asset Management LLC acquired a new stake in shares of Sysco in the fourth quarter valued at about $29,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the third quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco in the fourth quarter valued at about $31,000. Finally, Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the fourth quarter valued at about $31,000. 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.