Sysco (NYSE:SYY) Upgraded by StockNews.com to Strong-Buy Rating

Sysco (NYSE:SYY - Get Free Report) was upgraded by investment analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report issued on Wednesday.

A number of other analysts also recently weighed in on the company. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Wells Fargo & Company upped their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Barclays decreased their target price on shares of Sysco from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 29th. Melius initiated coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a "hold" rating and a $85.00 price target for the company. Finally, UBS Group decreased their price objective on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus price target of $84.77.

Sysco Price Performance

SYY traded down $0.44 on Wednesday, reaching $74.48. The company had a trading volume of 3,359,389 shares, compared to its average volume of 3,099,142. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco has a 52-week low of $69.03 and a 52-week high of $82.33. The company has a market cap of $36.44 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 1.88 and a beta of 1.17. The business has a 50 day simple moving average of $73.58 and a 200 day simple moving average of $75.63.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the company posted $0.89 earnings per share. As a group, sell-side analysts anticipate that Sysco will post 4.58 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.54% of the company's stock.

Institutional Trading of Sysco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of Sysco in the 3rd quarter valued at approximately $26,000. Parvin Asset Management LLC bought a new position in Sysco in the fourth quarter worth $29,000. Stonebridge Financial Group LLC purchased a new position in Sysco during the fourth quarter valued at $31,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the 3rd quarter valued at $31,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco in the 4th quarter worth about $31,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

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.