Sysco (NYSE:SYY) Rating Upgraded to Strong-Buy on StockNews.com
Sysco (NYSE:SYY – Get a Rating) was upgraded by StockNews.com from a “buy” rating to a “strong buy” rating in a note released Wednesday to investors.
A number of other stock analysts also weighed in on the company. Deutsche Bank Aktiengesellschaft raised its price target on Sysco from $82.00 to $84.00 in a research note on Wednesday. Truist Financial began covering Sysco in a research note on Tuesday February 1. They set a “buy” rating and a price target of $89.00 for the company. CL King began Sysco coverage in a research note on Friday, March 11. They set a “neutral” rating for the company. Piper Sandler raised her price target on Sysco from $83.00 to $90.00 and gave the company an “overweight” rating in a Friday, April 8 research report. Finally, Barclays raised its price target on Sysco from $90.00 to $100.00 and gave the company an “overweight” rating in a Monday, April 25 research report. Four equity research analysts gave the stock a hold rating, five issued a buy rating and one gave the company a strong buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $92.89.
SYY stock traded at $1.99 at midday Wednesday, hitting $84.06. The stock had a trading volume of 4,074,804 shares, compared to an average volume of 2,654,388. The company 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 capitalization 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 ratio of 8.68, a quick ratio of 0.78 and a current ratio of 1.33.
Sysco (NYSE:SYY – Get Rating) last released quarterly earnings data on Tuesday, May 10. The company reported earnings per share of $0.71 for the quarter, beating consensus analyst estimates of $0.55 by $0.16. The company posted revenue of $16.90 billion in the quarter, versus 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 increased 42.9% year over year. In the same quarter last year, the company posted EPS of $0.22. On average, sell-side analysts expect Sysco to post EPS of 3.04 for the current fiscal year.
In a similar vein, Executive Vice President Greg D. Bertrand sold 75,526 shares of Sysco in a trade dated Wednesday, February 16. 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 via this hyperlink. Additionally, director Sheila Talton sold 2,265 shares of Sysco in a trade dated Thursday, February 10. The stock was sold at an average price of $82.14, for a total value of $186,047.10. The disclosure of this sale can be found here. During the last quarter, insiders sold 223,692 shares of the company worth $19,406,794. 0.31% of the shares are currently held by insiders.
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. Field & Main Bank increased its stake in Sysco by 1.7% in the 1st quarter. Field & Main Bank now owns 7,030 shares of the company worth $574,000 after buying 115 more shares in the last quarter. Stock Yards Bank & Trust Co. increased its stake in Sysco by 3.2% in Q1. Stock Yards Bank & Trust Co. now owns 3,756 shares of the company worth $307,000 after buying 115 additional shares in the last quarter. Aevitas Wealth Management Inc. increased its stake in Sysco by 3.0% in the 1st quarter. Aevitas Wealth Management Inc. now owns 3,970 shares of the company worth $324,000 after purchasing an additional 117 shares last quarter. Ellevest Inc. increased its stake in Sysco by 2.9% in the 1st quarter. Ellevest Inc. now owns 4,190 shares of the company worth $342,000 after purchasing an additional 120 shares in the last quarter. Finally, Wagner Wealth Management LLC increased its stake in Sysco by 25.9% in the 4th quarter. Wagner Wealth Management LLC now owns 608 shares of the company worth $48,000 after buying 125 additional shares in the last quarter. 80.64% of the shares are currently held by institutional investors and hedge funds.
About Sysco (Get a rating)
Sysco Corporation, through its subsidiaries, is engaged in the marketing and distribution of various food and related products primarily to the foodservice or out-of-home catering industry in the United States, Canada, UK, France and overseas. It operates through the United States Restaurant Operations, International Restaurant Operations, SYGMA and Other segments.
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