Sysco (NYSE:SYY – Get Free Report) was downgraded by 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 also recently weighed in on the company. Wells Fargo & Company lowered their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley lowered their target price on shares of Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Finally, Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.79.
Read Our Latest Stock Analysis on Sysco
Sysco Trading Down 5.9 %
Sysco (NYSE:SYY – Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, research analysts predict that Sysco will post 4.57 earnings per share for the current fiscal year.
Insider Activity
In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,306 shares of company stock valued at $6,485,050. Company insiders own 0.54% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. State Street Corp boosted its position in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares during the last quarter. Primecap Management Co. CA boosted its holdings in Sysco by 9.7% during the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after buying an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. grew its position in Sysco by 8.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after buying an additional 375,409 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Sysco by 4.1% in the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after buying an additional 168,163 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.
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.
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