StockNews.com Upgrades Sysco (NYSE:SYY) to “Strong-Buy”

Sysco (NYSE:SYY) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Several other analysts have also recently weighed in on the stock. Truist Financial cut their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. JPMorgan Chase & Co. decreased their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Finally, Morgan Stanley lowered their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.27.

Sysco Trading Down 1.1 %

Sysco stock traded down $0.87 during trading hours on Thursday, reaching $75.78. The stock had a trading volume of 2,574,115 shares, compared to its average volume of 3,144,242. The stock has a market cap of $37.74 billion, a PE ratio of 18.48, a PEG ratio of 2.06 and a beta of 1.18. The company has a fifty day simple moving average of $72.39 and a 200-day simple moving average of $76.07. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.77. Sysco has a 52 week low of $62.24 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter in the previous year, the business earned $1.34 EPS. Sysco’s revenue was up 4.2% compared to the same quarter last year. Analysts forecast that Sysco will post 4.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Sysco

Several hedge funds have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc increased its stake in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares in the last quarter. Trust Point Inc. purchased a new position in Sysco in the 4th quarter worth approximately $936,000. Ballentine Partners LLC lifted its position in Sysco by 54.0% in the 4th quarter. Ballentine Partners LLC now owns 9,774 shares of the company’s stock valued at $715,000 after acquiring an additional 3,426 shares in the last quarter. Compass Ion Advisors LLC boosted its stake in Sysco by 8.3% during the 4th quarter. Compass Ion Advisors LLC now owns 4,916 shares of the company’s stock valued at $359,000 after purchasing an additional 376 shares during the last quarter. Finally, Boston Trust Walden Corp increased its holdings in shares of Sysco by 0.7% in the 4th quarter. Boston Trust Walden Corp now owns 314,273 shares of the company’s stock worth $22,983,000 after purchasing an additional 2,163 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

About Sysco

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.