Sysco (NYSE:SYY) Upgraded to “Strong-Buy” at StockNews.com

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

A number of other research analysts have also recently commented on SYY. Truist Financial reduced their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company decreased their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Finally, Barclays decreased their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Sysco Price Performance

Shares of NYSE SYY opened at $71.38 on Tuesday. The firm has a market capitalization of $34.92 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.93 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The stock’s 50-day simple moving average is $76.11 and its two-hundred day simple moving average is $75.99. Sysco has a twelve month low of $69.03 and a twelve month high of $82.33.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the firm earned $0.89 earnings per share. As a group, equities analysts anticipate that Sysco will post 4.58 EPS for the current fiscal year.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction on 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 directly owns 60,581 shares in the company, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,270 shares of company stock valued at $6,181,946 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Sysco

Several large investors have recently modified their holdings of the company. National Pension Service grew its position in Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after buying an additional 166,798 shares during the period. New England Asset Management Inc. lifted its position in shares of Sysco by 12.7% during the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after buying an additional 14,810 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Sysco by 29.0% during the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after acquiring an additional 17,587 shares during the period. Diamond Hill Capital Management Inc. raised its stake in Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after purchasing an additional 8,891 shares in the last quarter. Institutional investors 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.