Sysco (NYSE:SYY) Stock Rating Upgraded by Wall Street Zen

Sysco (NYSE:SYY) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

SYY has been the topic of a number of other reports. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. BMO Capital Markets reduced their target price on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Barclays reduced their target price on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Citigroup began coverage on shares of Sysco in a report on Thursday, May 22nd. They set a “neutral” rating and a $78.00 price target on the stock. Finally, Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Sysco Stock Down 1.0%

Shares of SYY stock opened at $76.88 on Friday. The stock has a market cap of $37.27 billion, a P/E ratio of 19.92, a PEG ratio of 2.33 and a beta of 0.81. Sysco has a 52 week low of $67.12 and a 52 week high of $82.23. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. The company’s fifty day simple moving average is $73.27 and its two-hundred day simple moving average is $73.31.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). The company had revenue of $19.60 billion during the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. Analysts predict that Sysco will post 4.58 EPS for the current fiscal year.

Insider Activity

In other Sysco news, Director Sheila Talton sold 356 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director owned 12,738 shares of the company’s stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SYY. Garde Capital Inc. increased its stake in shares of Sysco by 2,286.4% in the second quarter. Garde Capital Inc. now owns 525 shares of the company’s stock worth $40,000 after acquiring an additional 503 shares during the period. Trust Co of the South increased its stake in shares of Sysco by 3.0% in the second quarter. Trust Co of the South now owns 4,849 shares of the company’s stock worth $367,000 after acquiring an additional 142 shares during the period. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Sysco in the first quarter worth $1,366,000. 1248 Management LLC acquired a new stake in shares of Sysco in the first quarter worth $45,000. Finally, Invst LLC acquired a new stake in shares of Sysco in the first quarter worth $2,022,000. Hedge funds and other institutional investors 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.