Sysco (NYSE:SYY) Upgraded by StockNews.com to Strong-Buy

by · The Markets Daily

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

Other research analysts also recently issued reports about the stock. Morgan Stanley cut their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Truist Financial cut their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

Read Our Latest Report on SYY

Sysco Stock Down 1.6 %

Sysco stock opened at $76.12 on Wednesday. Sysco has a twelve month low of $62.24 and a twelve month high of $82.89. The firm has a 50 day moving average price of $76.60 and a 200-day moving average price of $75.39. The company has a market capitalization of $37.41 billion, a P/E ratio of 18.57, a P/E/G ratio of 2.02 and a beta of 1.20. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY – Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. As a group, equities analysts predict that Sysco will post 4.6 EPS for the current year.

Institutional Trading of Sysco

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors raised its position in shares of Sysco by 17.5% during the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after buying an additional 1,637,232 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after buying an additional 1,782,180 shares in the last quarter. Capital Research Global Investors raised its position in Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after purchasing an additional 3,504,740 shares during the period. Diamond Hill Capital Management Inc. raised its position in Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after purchasing an additional 1,997,895 shares during the period. Finally, ProShare Advisors LLC raised its position in Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after purchasing an additional 2,408,226 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Company Profile

(Get Free Report)

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.

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