Sysco (NYSE:SYY) Rating Lowered to “Buy” at StockNews.com

by · The Markets Daily

Sysco (NYSE:SYY – Get Free Report) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

A number of other analysts have also recently commented on SYY. Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Melius assumed coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Morgan Stanley decreased their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Guggenheim reaffirmed a “buy” rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Get Our Latest Analysis on SYY

Sysco Trading Down 1.8 %

Shares of SYY stock traded down $1.27 on Thursday, reaching $71.12. The company had a trading volume of 5,122,399 shares, compared to its average volume of 3,123,286. The company has a 50-day moving average of $73.15 and a 200-day moving average of $75.41. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock has a market cap of $34.79 billion, a PE ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.11. Sysco has a 12 month low of $69.03 and a 12 month high of $82.33.

Sysco (NYSE:SYY – Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the company earned $0.89 earnings per share. On average, equities analysts forecast that Sysco will post 4.58 earnings per share for the current year.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sysco

Hedge funds have recently added to or reduced their stakes in the stock. Pathstone Holdings LLC boosted its stake in shares of Sysco by 4.9% in the 3rd quarter. Pathstone Holdings LLC now owns 126,684 shares of the company’s stock worth $9,889,000 after buying an additional 5,918 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Sysco in the third quarter worth $1,307,000. Prospera Financial Services Inc lifted its holdings in shares of Sysco by 8.1% in the third quarter. Prospera Financial Services Inc now owns 13,939 shares of the company’s stock worth $1,088,000 after buying an additional 1,041 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Sysco during the 3rd quarter valued at about $4,346,000. Finally, Advisors Asset Management Inc. purchased a new position in Sysco during the 3rd quarter valued at approximately $464,000. 83.41% of the stock is owned by institutional investors.

About Sysco

(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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