Sysco (NYSE:SYY) Stock Rating Upgraded by StockNews.com

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

Several other research firms have also commented on SYY. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Sysco Price Performance

SYY traded down $0.25 on Tuesday, reaching $80.82. 3,695,523 shares of the company’s stock were exchanged, compared to its average volume of 3,166,851. Sysco has a twelve month low of $69.03 and a twelve month high of $82.89. The stock has a market cap of $39.70 billion, a PE ratio of 20.78, a P/E/G ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The stock’s fifty day moving average price is $76.12 and its 200-day moving average price is $74.99.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter last year, the company earned $1.07 earnings per share. Sysco’s revenue for the quarter was up 4.4% on a year-over-year basis. Sell-side analysts expect that Sysco will post 4.57 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the transaction, the executive vice president now owns 60,581 shares of the company’s stock, valued at $4,846,480. This trade represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,279 shares of company stock worth $2,786,971 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

Hedge funds have recently added to or reduced their stakes in the business. Plimoth Trust Co. LLC increased its position in shares of Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after acquiring an additional 139 shares during the period. Koshinski Asset Management Inc. increased its holdings in Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares during the period. Powers Advisory Group LLC increased its holdings in Sysco by 1.6% during the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock worth $682,000 after purchasing an additional 149 shares during the period. Cable Hill Partners LLC raised its position in Sysco by 3.9% in the 3rd quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after purchasing an additional 152 shares in the last quarter. Finally, Arrow Financial Corp boosted its stake in shares of Sysco by 0.8% in the 2nd quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock valued at $1,427,000 after buying an additional 155 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

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.