Sysco (NYSE:SYY) Raised to "Hold" at Melius Research

Sysco (NYSE:SYY - Get Free Report) was upgraded by stock analysts at Melius Research to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

SYY has been the topic of a number of other research reports. StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Wells Fargo & Company dropped their price objective on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Finally, Melius initiated coverage on Sysco in a report on Wednesday. They set a "hold" rating and a $85.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $85.93.

Sysco Stock Performance

Shares of Sysco stock traded up $0.42 on Wednesday, hitting $76.97. The stock had a trading volume of 7,353,951 shares, compared to its average volume of 3,163,888. The stock has a market cap of $37.81 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 2.10 and a beta of 1.19. The business's 50 day moving average is $76.70 and its two-hundred day moving average is $75.35. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco has a twelve month low of $69.03 and a twelve month 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 firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 earnings per share. Analysts forecast that Sysco will post 4.57 EPS for the current year.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 21,844 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the sale, the executive vice president now owns 60,581 shares in the company, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,279 shares of company stock worth $2,786,971 over the last quarter. Corporate insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Sysco

Large investors have recently modified their holdings of the business. Armstrong Advisory Group Inc. increased its holdings in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock valued at $26,000 after purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Sysco in the 3rd quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the third quarter valued at about $31,000. Focused Wealth Management Inc acquired a new stake in shares of Sysco in the third quarter valued at about $37,000. Finally, Fairscale Capital LLC bought a new position in shares of Sysco during the second quarter worth about $38,000. 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.