Sysco (NYSE:SYY) Stock Rating Lowered by StockNews.com

Sysco (NYSE:SYY) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

Other analysts also recently issued research reports about the stock. Bank of America dropped their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. JPMorgan Chase & Co. raised their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Morgan Stanley dropped their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Truist Financial dropped 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. Finally, Barclays raised their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Stock Down 1.1 %

Shares of SYY traded down $0.83 on Monday, hitting $74.71. 2,397,812 shares of the stock traded hands, compared to its average volume of 3,160,146. The company has a market capitalization of $36.70 billion, a PE ratio of 19.21, a P/E/G ratio of 1.97 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The business has a 50 day simple moving average of $76.54 and a 200 day simple moving average of $74.84. Sysco has a one year low of $64.28 and a one year 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 for the quarter, beating the consensus estimate of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.34 earnings per share. As a group, equities analysts forecast that Sysco will post 4.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SYY. Fisher Asset Management LLC lifted its stake in shares of Sysco by 52.5% during the 4th quarter. Fisher Asset Management LLC now owns 8,084 shares of the company’s stock valued at $591,000 after buying an additional 2,784 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Sysco by 2.9% during the 1st quarter. Ballentine Partners LLC now owns 10,055 shares of the company’s stock valued at $816,000 after buying an additional 281 shares in the last quarter. Global Assets Advisory LLC purchased a new position in shares of Sysco during the 1st quarter valued at $1,145,000. Riverview Trust Co purchased a new position in shares of Sysco during the 1st quarter valued at $77,000. Finally, First Financial Corp IN lifted its stake in shares of Sysco by 2.2% during the 1st quarter. First Financial Corp IN now owns 7,417 shares of the company’s stock valued at $602,000 after buying an additional 160 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.