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

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

SYY has been the subject of a number of other reports. Jefferies Financial Group increased their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Melius began 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. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. increased their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.93.

Sysco Trading Up 0.4 %

NYSE:SYY opened at $73.98 on Monday. Sysco has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The business has a 50 day simple moving average of $76.94 and a 200 day simple moving average of $75.78. The firm has a market capitalization of $36.34 billion, a P/E ratio of 19.02, a P/E/G ratio of 2.10 and a beta of 1.18.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. Equities research analysts predict that Sysco will post 4.57 EPS for the current year.

Insider Transactions at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred 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 $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock valued at $6,485,050 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Sysco

A number of hedge funds have recently modified their holdings of SYY. CHURCHILL MANAGEMENT Corp raised its position in Sysco by 3.8% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 121,208 shares of the company’s stock valued at $9,268,000 after buying an additional 4,458 shares during the period. Burney Co. grew its stake in Sysco by 13.2% during the 4th quarter. Burney Co. now owns 27,424 shares of the company’s stock valued at $2,097,000 after acquiring an additional 3,192 shares in the last quarter. Founders Grove Wealth Partners LLC acquired a new position in shares of Sysco in the 4th quarter valued at about $207,000. Laurel Wealth Advisors LLC lifted its position in shares of Sysco by 15.0% in the fourth quarter. Laurel Wealth Advisors LLC now owns 2,300 shares of the company’s stock worth $176,000 after purchasing an additional 300 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Sysco by 34.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,260 shares of the company’s stock worth $96,000 after purchasing an additional 325 shares during the period. Hedge funds and other 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.