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

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

Several other research analysts have also recently weighed in on the company. Truist Financial lowered their price target on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BMO Capital Markets dropped their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Morgan Stanley decreased their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.27.

Sysco Trading Up 0.4 %

Shares of NYSE SYY opened at $78.27 on Monday. The stock has a market cap of $38.47 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco has a 1 year low of $62.24 and a 1 year high of $82.89. The firm has a 50-day moving average of $74.21 and a 200 day moving average of $75.80.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. During the same period in the previous year, the firm posted $1.34 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts expect that Sysco will post 4.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Sysco

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors bought a new stake in Sysco during the fourth quarter worth approximately $683,599,000. Norges Bank purchased a new position in shares of Sysco during the fourth quarter worth approximately $450,794,000. Capital Research Global Investors raised its stake in shares of Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after acquiring an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Sysco by 103.0% in the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares during the period. Finally, Swedbank AB bought a new position in Sysco in the first quarter worth approximately $178,824,000. Institutional investors own 83.41% of the company’s stock.

Sysco Company Profile

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.