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

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

Other equities research analysts have also issued research reports about the stock. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, May 28th. Bank of America lowered their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Morgan Stanley reduced their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Barclays upped their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.55.

Sysco Price Performance

Shares of NYSE:SYY traded up $0.23 during trading on Tuesday, reaching $76.41. The stock had a trading volume of 4,490,774 shares, compared to its average volume of 3,163,881. The stock has a market capitalization of $38.05 billion, a PE ratio of 18.64, a P/E/G ratio of 2.01 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 52 week low of $62.24 and a 52 week high of $82.89. The business’s 50-day moving average price is $76.03 and its 200 day moving average price is $75.47.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. As a group, equities analysts predict that Sysco will post 4.6 earnings per share for the current year.

Institutional Trading of Sysco

Hedge funds have recently modified their holdings of the company. Chicago Partners Investment Group LLC increased its stake in Sysco by 1.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after purchasing an additional 124 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings in Sysco by 8.2% during the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after acquiring an additional 131 shares in the last quarter. Beacon Investment Advisors LLC grew its stake in Sysco by 0.5% in the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after acquiring an additional 133 shares during the period. Plimoth Trust Co. LLC increased its holdings in shares of Sysco by 0.6% in the second 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. Finally, Meeder Advisory Services Inc. lifted its holdings in shares of Sysco by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after purchasing an additional 141 shares in the last quarter. 83.41% of the stock is currently 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.