Sysco (NYSE:SYY) Upgraded by StockNews.com to Strong-Buy Rating

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

SYY has been the subject of a number of other reports. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Barclays reduced their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Finally, Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.85.

Sysco Trading Down 0.8 %

Shares of NYSE:SYY opened at $72.31 on Tuesday. The company has a 50 day moving average price of $76.30 and a 200 day moving average price of $76.02. Sysco has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock has a market capitalization of $35.38 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.93 and a beta of 1.18.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the firm posted $0.89 EPS. On average, research analysts anticipate that Sysco will post 4.58 EPS for the current fiscal year.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock worth $6,181,946 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

A number of large investors have recently made changes to their positions in SYY. Redmond Asset Management LLC purchased a new stake in shares of Sysco during the 4th quarter worth approximately $1,375,000. Winebrenner Capital Management LLC purchased a new stake in shares of Sysco during the 4th quarter worth $627,000. Transcend Capital Advisors LLC lifted its stake in shares of Sysco by 16.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 5,466 shares of the company’s stock worth $418,000 after purchasing an additional 758 shares during the last quarter. Boston Financial Mangement LLC raised its stake in Sysco by 35.3% in the fourth quarter. Boston Financial Mangement LLC now owns 13,427 shares of the company’s stock valued at $1,027,000 after buying an additional 3,500 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its stake in shares of Sysco by 18.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 27,819 shares of the company’s stock worth $2,127,000 after purchasing an additional 4,356 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

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.