Sysco (NYSE:SYY – Get Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.
A number of other equities analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Sysco from $82.00 to $84.00 in a research note on Wednesday. Truist Financial started coverage on Sysco in a research note on Tuesday, February 1st. They set a “buy” rating and a $89.00 price objective for the company. CL King started coverage on Sysco in a research note on Friday, March 11th. They set a “neutral” rating for the company. Piper Sandler raised their target price on Sysco from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 8th. Finally, Barclays raised their target price on Sysco from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, April 25th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $92.89.
SYY stock traded down $1.99 during midday trading on Wednesday, reaching $84.06. The stock had a trading volume of 4,074,804 shares, compared to its average volume of 2,654,388. The firm has a fifty day simple moving average of $83.39 and a two-hundred day simple moving average of $79.96. The stock has a market cap of $43.09 billion, a PE ratio of 55.30, a P/E/G ratio of 2.47 and a beta of 1.14. Sysco has a 52-week low of $68.05 and a 52-week high of $91.53. The company has a debt-to-equity ratio of 8.68, a quick ratio of 0.78 and a current ratio of 1.33.
Sysco (NYSE:SYY – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.16. The business had revenue of $16.90 billion during the quarter, compared to analyst estimates of $15.99 billion. Sysco had a return on equity of 82.36% and a net margin of 1.29%. The company’s revenue was up 42.9% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. On average, sell-side analysts predict that Sysco will post 3.04 EPS for the current fiscal year.
In related news, EVP Greg D. Bertrand sold 75,526 shares of Sysco stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of $85.43, for a total value of $6,452,186.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sheila Talton sold 2,265 shares of Sysco stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $82.14, for a total value of $186,047.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 223,692 shares of company stock worth $19,406,794. 0.31% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Field & Main Bank lifted its stake in Sysco by 1.7% in the 1st quarter. Field & Main Bank now owns 7,030 shares of the company’s stock worth $574,000 after purchasing an additional 115 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its stake in Sysco by 3.2% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 3,756 shares of the company’s stock worth $307,000 after purchasing an additional 115 shares in the last quarter. Aevitas Wealth Management Inc. lifted its stake in Sysco by 3.0% in the 1st quarter. Aevitas Wealth Management Inc. now owns 3,970 shares of the company’s stock worth $324,000 after purchasing an additional 117 shares in the last quarter. Ellevest Inc. lifted its stake in Sysco by 2.9% in the 1st quarter. Ellevest Inc. now owns 4,190 shares of the company’s stock worth $342,000 after purchasing an additional 120 shares in the last quarter. Finally, Wagner Wealth Management LLC lifted its stake in Sysco by 25.9% in the 4th quarter. Wagner Wealth Management LLC now owns 608 shares of the company’s stock worth $48,000 after purchasing an additional 125 shares in the last quarter. 80.64% of the stock is currently owned by institutional investors and hedge funds.
About Sysco (Get Rating)
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.