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

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

SYY has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company reduced their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, eleven 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 an average target price of $85.77.

Sysco Stock Down 0.3 %

Shares of SYY stock traded down $0.25 on Tuesday, hitting $80.82. The stock had a trading volume of 3,695,523 shares, compared to its average volume of 3,166,851. Sysco has a one year low of $69.03 and a one year high of $82.89. The business has a 50 day moving average price of $76.12 and a 200 day moving average price of $74.99. The company has a market cap of $39.70 billion, a PE ratio of 20.78, a P/E/G ratio of 2.12 and a beta of 1.19. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 EPS. Research analysts anticipate that Sysco will post 4.57 earnings per share for the current fiscal year.

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the transaction, the executive vice president now owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,279 shares of company stock worth $2,786,971 over the last quarter. 0.54% of the stock is currently owned by insiders.

Institutional Trading of Sysco

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Plimoth Trust Co. LLC increased its holdings in Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after acquiring an additional 139 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in shares of Sysco by 3.1% during the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares in the last quarter. Powers Advisory Group LLC raised its position in shares of Sysco by 1.6% during the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock worth $682,000 after purchasing an additional 149 shares during the last quarter. Cable Hill Partners LLC lifted its stake in Sysco by 3.9% in the 3rd quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after buying an additional 152 shares in the last quarter. Finally, Arrow Financial Corp lifted its stake in Sysco by 0.8% in the 2nd quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock valued at $1,427,000 after buying an additional 155 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

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.