Sysco (NYSE:SYY) Coverage Initiated at Melius

Research analysts at Melius began coverage on shares of Sysco (NYSE:SYY - Get Free Report) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set a "hold" rating and a $85.00 price target on the stock. Melius' price objective suggests a potential upside of 10.28% from the company's previous close.

Several other analysts also recently weighed in on SYY. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research report on Monday. Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Finally, StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.93.

Sysco Stock Performance

SYY stock traded down $0.95 during midday trading on Wednesday, reaching $77.08. The company had a trading volume of 3,057,893 shares, compared to its average volume of 3,149,228. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The stock has a 50 day moving average price of $76.60 and a 200 day moving average price of $75.32. The firm has a market capitalization of $37.86 billion, a PE ratio of 19.81, a P/E/G ratio of 2.10 and a beta of 1.19. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 earnings per share. Analysts anticipate that Sysco will post 4.57 earnings per share for the current year.

Insider Activity at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. This represents a 11.83 % 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 21,844 shares of Sysco stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the transaction, the executive vice president now owns 60,581 shares in the company, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,279 shares of company stock worth $2,786,971 in the last quarter. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. National Pension Service grew its stake in Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company's stock valued at $96,562,000 after acquiring an additional 166,798 shares in the last quarter. New England Asset Management Inc. grew its position in Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company's stock valued at $10,254,000 after purchasing an additional 14,810 shares in the last quarter. Empowered Funds LLC increased its stake in Sysco by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company's stock valued at $6,115,000 after buying an additional 17,587 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company's stock valued at $521,874,000 after buying an additional 672,940 shares during the period. Finally, Captrust Financial Advisors grew its holdings in shares of Sysco by 7.7% during the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company's stock valued at $9,706,000 after acquiring an additional 8,891 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

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.