SYSCO (SYY) Lifted to “Equal Weight” at Morgan Stanley

SYSCO (NYSE:SYY) was upgraded by equities researchers at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued on Tuesday, The Fly reports.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, October 10th. Pivotal Research lifted their price objective on SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Loop Capital lifted their price objective on SYSCO to $68.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, BMO Capital Markets set a $66.00 price objective on SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $59.55.

SYSCO (SYY) opened at $61.38 on Tuesday. The firm has a market capitalization of $31,982.44, a price-to-earnings ratio of 27.90, a PEG ratio of 2.42 and a beta of 0.53. SYSCO has a 52-week low of $48.85 and a 52-week high of $62.79. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88.

SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The company had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. SYSCO had a return on equity of 58.47% and a net margin of 2.12%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 earnings per share. analysts anticipate that SYSCO will post 2.81 EPS for the current year.

In other SYSCO news, SVP Greg D. Bertrand sold 81,038 shares of SYSCO stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the completion of the sale, the senior vice president now owns 69,721 shares of the company’s stock, valued at $4,236,247.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $54.71, for a total value of $1,641,300.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $22,251,924.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 321,172 shares of company stock valued at $18,233,905. Corporate insiders own 9.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwest Quadrant Wealth Management LLC lifted its stake in shares of SYSCO by 0.6% in the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock valued at $269,000 after acquiring an additional 29 shares during the last quarter. Keel Point LLC increased its holdings in SYSCO by 0.8% during the 2nd quarter. Keel Point LLC now owns 5,782 shares of the company’s stock valued at $291,000 after purchasing an additional 47 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in SYSCO by 0.6% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 17,800 shares of the company’s stock valued at $896,000 after purchasing an additional 100 shares during the period. Laurel Wealth Advisors Inc. increased its holdings in SYSCO by 1.1% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 10,334 shares of the company’s stock valued at $520,000 after purchasing an additional 116 shares during the period. Finally, MML Investors Services LLC increased its holdings in SYSCO by 0.9% during the 2nd quarter. MML Investors Services LLC now owns 13,403 shares of the company’s stock valued at $675,000 after purchasing an additional 120 shares during the period. 80.08% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “SYSCO (SYY) Lifted to “Equal Weight” at Morgan Stanley” was first reported by BBNS and is the sole property of of BBNS. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://baseballnewssource.com/markets/sysco-syy-lifted-to-equal-weight-at-morgan-stanley/1839260.html.

SYSCO Company Profile

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

The Fly

Analyst Recommendations for SYSCO (NYSE:SYY)

Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with our FREE daily email newsletter.

 


Latest News

Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
Trade Rumor: Manny Machado Could Land With Yankees
Trade Rumor: Manny Machado Could Land With Yankees
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal


Leave a Reply

 
© 2006-2018 BBNS.