Sysco (NYSE:SYY) Rating Lowered to Buy at StockNews.com

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

Other equities research analysts have also issued reports about the company. Guggenheim reiterated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price target on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, Morgan Stanley decreased their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Trading Down 0.1 %

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 firm has a market cap of $34.79 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.11. The business’s 50 day moving average is $73.10 and its 200-day moving average is $75.36. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the company posted $0.89 EPS. Equities analysts anticipate that Sysco will post 4.58 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Parvin Asset Management LLC acquired a new position in shares of Sysco in the 4th quarter valued at $29,000. Stonebridge Financial Group LLC acquired a new position in shares of Sysco in the 4th quarter valued at $31,000. Sherman Asset Management Inc. acquired a new stake in Sysco during the 4th quarter worth $31,000. Flagship Wealth Advisors LLC acquired a new stake in Sysco during the 4th quarter worth $31,000. Finally, SRS Capital Advisors Inc. raised its stake in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares during the period. 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.