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

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 research note issued to investors on Monday.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Melius Research raised shares of Sysco to a "hold" rating in a report on Wednesday, December 18th. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Melius assumed coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a "hold" rating and a $85.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.93.

Sysco Trading Up 0.2 %

SYY stock traded up $0.12 during midday trading on Monday, hitting $73.71. 2,536,990 shares of the company's stock were exchanged, compared to its average volume of 1,988,624. The stock has a market capitalization of $36.21 billion, a PE ratio of 18.95, a P/E/G ratio of 2.10 and a beta of 1.18. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco has a 1-year low of $69.03 and a 1-year high of $82.89. The business has a 50-day simple moving average of $76.98 and a two-hundred day simple moving average of $75.76.

Sysco (NYSE:SYY - Get Free Report) last issued 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). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The company's quarterly revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Sysco will post 4.57 EPS for the current fiscal year.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the company's 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 sale, the senior vice president now owns 48,451 shares of the company's stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the company'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 value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares of the company's stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock worth $6,485,050 over the last quarter. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sysco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fortem Financial Group LLC lifted its position in shares of Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock worth $296,000 after purchasing an additional 136 shares during the last quarter. Koshinski Asset Management Inc. raised its position in shares of Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company's stock worth $383,000 after buying an additional 146 shares in the last quarter. Cable Hill Partners LLC lifted its position in Sysco by 3.9% in the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company's stock worth $316,000 after purchasing an additional 152 shares during the period. Capstone Triton Financial Group LLC raised its position in Sysco by 1.4% in the second quarter. Capstone Triton Financial Group LLC now owns 12,691 shares of the company's stock worth $906,000 after acquiring an additional 175 shares in the last quarter. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group boosted its holdings in Sysco by 1.1% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 17,045 shares of the company's stock worth $1,217,000 after buying an additional 178 shares in the last quarter. 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.

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