SYSCO (NYSE:SYY) Receives Buy Rating from Wells Fargo & Co

SYSCO (NYSE:SYY)‘s stock had its “buy” rating reaffirmed by equities researchers at Wells Fargo & Co in a research note issued on Monday, TipRanks reports.

SYY has been the subject of several other reports. Morgan Stanley boosted their target price on SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. Loop Capital boosted their target price on SYSCO to $80.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Pivotal Research restated a “sell” rating and issued a $58.00 target price (up from $54.00) on shares of SYSCO in a report on Tuesday, May 7th. Credit Suisse Group boosted their target price on SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Consumer Edge started coverage on SYSCO in a report on Wednesday, July 17th. They issued an “underweight” rating and a $71.75 target price for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. SYSCO has an average rating of “Hold” and a consensus price target of $74.48.

Shares of SYSCO stock traded down $1.08 during trading on Monday, hitting $72.28. 3,144,088 shares of the stock traded hands, compared to its average volume of 2,777,908. The company has a market capitalization of $35.97 billion, a PE ratio of 23.18, a P/E/G ratio of 1.87 and a beta of 0.52. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44. SYSCO has a twelve month low of $59.44 and a twelve month high of $75.98. The business’s fifty day moving average is $70.85.



SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, August 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.03. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The business had revenue of $15.47 billion during the quarter, compared to analyst estimates of $15.65 billion. During the same period in the previous year, the company earned $0.94 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. As a group, analysts forecast that SYSCO will post 3.5 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new position in shares of SYSCO during the second quarter worth approximately $25,000. Advisors Preferred LLC acquired a new position in shares of SYSCO during the first quarter worth approximately $26,000. SRS Capital Advisors Inc. acquired a new position in shares of SYSCO during the second quarter worth approximately $28,000. Coastal Capital Group Inc. acquired a new position in shares of SYSCO during the second quarter worth approximately $29,000. Finally, Lenox Wealth Management Inc. lifted its holdings in shares of SYSCO by 163.7% during the first quarter. Lenox Wealth Management Inc. now owns 480 shares of the company’s stock worth $32,000 after buying an additional 298 shares during the last quarter. Institutional investors own 78.30% of the company’s stock.

About SYSCO

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Analyst Recommendations for SYSCO (NYSE:SYY)

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