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

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

SYY has been the topic of several other reports. Morgan Stanley boosted their price objective on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. UBS Group lifted their price target on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Citigroup boosted their price target on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Piper Sandler raised their price objective on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Sysco Trading Up 0.1%

NYSE SYY opened at $80.10 on Friday. Sysco has a 12 month low of $68.19 and a 12 month high of $91.85. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The stock has a 50 day moving average of $83.07 and a 200-day moving average of $80.19. The company has a market cap of $38.38 billion, a PE ratio of 21.89, a PEG ratio of 2.73 and a beta of 0.63.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, equities research analysts anticipate that Sysco will post 5.12 EPS for the current fiscal year.

Insider Buying and Selling at Sysco

In other news, EVP Ronald Phillips sold 506 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.09, for a total value of $42,549.54. Following the completion of the sale, the executive vice president owned 36,313 shares of the company’s stock, valued at approximately $3,053,560.17. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 14,508 shares of company stock worth $1,215,250 over the last three months. 0.56% of the stock is currently owned by company insiders.

Institutional Trading of Sysco

Several hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its stake in Sysco by 10,045.8% during the 2nd quarter. California State Teachers Retirement System now owns 63,555,151 shares of the company’s stock worth $5,311,940,000 after acquiring an additional 62,928,735 shares during the period. BlackRock Inc. bought a new stake in shares of Sysco during the 2nd quarter valued at $3,596,356,000. Norges Bank acquired a new stake in shares of Sysco during the 4th quarter worth $542,780,000. Bank of America Corp DE bought a new position in shares of Sysco in the second quarter worth $482,589,000. Finally, Wellington Management Group LLP increased its position in shares of Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after purchasing an additional 4,595,819 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.