StockNews.com Downgrades Sysco (NYSE:SYY) to Buy

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

A number of other research analysts also recently commented on the company. Melius assumed coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley lowered their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group boosted their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Four investment 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Performance

Shares of SYY stock opened at $71.12 on Thursday. Sysco has a 1-year low of $69.03 and a 1-year high of $82.33. 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 capitalization of $34.79 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.11. The stock’s fifty day simple moving average is $73.10 and its 200-day simple moving average is $75.36.

Sysco (NYSE:SYY) last issued its quarterly earnings results 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 business earned $0.89 EPS. On average, sell-side analysts predict that Sysco will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was 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 owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Sysco

Several large investors have recently made changes to their positions in SYY. Parvin Asset Management LLC bought a new position in Sysco during the fourth quarter valued at about $29,000. Stonebridge Financial Group LLC bought a new position in Sysco during the fourth quarter valued at about $31,000. Flagship Wealth Advisors LLC bought a new position in Sysco during the fourth quarter valued at about $31,000. Sherman Asset Management Inc. bought a new position in Sysco during the fourth quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. increased its stake in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares during the period. 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.