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

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

A number of other equities research analysts have also issued reports on the stock. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Barclays increased their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Morgan Stanley dropped their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group raised their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Stock Performance

SYY opened at $74.80 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The firm has a market cap of $36.74 billion, a PE ratio of 19.23, a P/E/G ratio of 1.97 and a beta of 1.20. The business has a fifty day simple moving average of $76.53 and a 200-day simple moving average of $74.82. Sysco has a fifty-two week low of $64.28 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last released its quarterly 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 business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. Sysco’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $1.34 EPS. As a group, equities analysts predict 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 SYY. Riverwater Partners LLC increased its holdings in shares of Sysco by 14.8% during the 3rd quarter. Riverwater Partners LLC now owns 6,592 shares of the company’s stock valued at $510,000 after acquiring an additional 852 shares during the last quarter. Courier Capital LLC acquired a new position in Sysco during the third quarter valued at approximately $206,000. Greenleaf Trust raised its position in shares of Sysco by 6.9% in the third quarter. Greenleaf Trust now owns 17,426 shares of the company’s stock valued at $1,360,000 after purchasing an additional 1,127 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Sysco in the third quarter worth $237,000. Finally, Global X Japan Co. Ltd. boosted its holdings in shares of Sysco by 7.5% during the 3rd quarter. Global X Japan Co. Ltd. now owns 5,926 shares of the company’s stock worth $463,000 after buying an additional 413 shares during the period. Institutional investors and hedge funds 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.