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

StockNews.com downgraded shares of Sysco (NYSE:SYY) from a strong-buy rating to a buy rating in a report released on Friday morning.

SYY has been the subject of a number of other research reports. Morgan Stanley lowered their target price on shares of Sysco from $82.00 to $81.00 and set an equal weight rating for the company in a research note on Tuesday, July 16th. BMO Capital Markets lowered their target price on shares of Sysco from $90.00 to $85.00 and set an outperform rating for the company in a research note on Thursday, May 23rd. Piper Sandler decreased their price objective on shares of Sysco from $83.00 to $79.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Sysco from $90.00 to $86.00 and set a buy rating for the company in a research note on Thursday, May 23rd. Finally, Guggenheim upgraded shares of Sysco from a neutral rating to a buy rating and set a $85.00 price objective for the company in a research note on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $85.27.

Sysco Stock Up 0.1 %

Shares of Sysco stock traded up $0.08 during trading hours on Friday, reaching $75.63. 2,258,827 shares of the company were exchanged, compared to its average volume of 3,140,584. Sysco has a 1 year low of $62.24 and a 1 year high of $82.89. The stock’s fifty day moving average is $72.77 and its 200 day moving average is $76.09. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The firm has a market cap of $37.66 billion, a PE ratio of 18.45, a PEG ratio of 1.96 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the prior year, the company earned $1.34 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Sysco will post 4.6 earnings per share for the current year.

Institutional Investors Weigh In On Sysco

Hedge funds have recently made changes to their positions in the business. TruNorth Capital Management LLC purchased a new stake in Sysco in the 2nd quarter valued at approximately $25,000. First United Bank & Trust purchased a new stake in Sysco in the 4th quarter valued at approximately $26,000. Verity & Verity LLC purchased a new stake in Sysco in the 1st quarter valued at approximately $26,000. Burkett Financial Services LLC purchased a new stake in Sysco in the 4th quarter valued at approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in Sysco in the 1st quarter valued at approximately $31,000. 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.