Sysco (NYSE:SYY) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Sysco from “hold” to “buy.” Across analysts, the stock has a “Moderate Buy” consensus rating with an average price target of $90.17.
• Sysco’s latest quarterly results exceeded expectations, with earnings per share of $1.53 versus the $1.51 consensus and revenue of $22.12 billion, up 4.7% year over year.
• Shares opened at $77.52, below the consensus price target, while institutional investors own 83.41% of the company. An executive’s recent stock sale was conducted under a 10b5-1 plan to cover tax obligations.

Sysco (NYSE:SYY - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently commented on the stock. Morgan Stanley upped their price target on shares of Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Melius Research lowered shares of Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday. UBS Group upped their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Guggenheim reaffirmed a "buy" rating and set a $90.00 target price on shares of Sysco in a research report on Wednesday, September 16th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sysco currently has a consensus rating of "Moderate Buy" and an average price target of $90.17.

Sysco Price Performance

SYY opened at $77.52 on Friday. The business has a fifty day moving average of $81.75 and a 200 day moving average of $79.14. Sysco has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The stock has a market cap of $37.17 billion, a P/E ratio of 21.18, a PEG ratio of 2.71 and a beta of 0.64.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the firm posted $1.48 earnings per share. The business's revenue was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, sell-side analysts anticipate that Sysco will post 5.1 EPS for the current year.

Insider Buying and Selling

In other news, EVP Ronald Phillips sold 7,350 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the sale, the executive vice president owned 38,650 shares in the company, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 15,525 shares of company stock worth $1,299,736. Company insiders own 0.56% of the company's stock.

Hedge Funds Weigh In On Sysco

A number of hedge funds and other institutional investors have recently modified their holdings of SYY. N.E.W. Advisory Services LLC purchased a new stake in Sysco in the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. increased its holdings in shares of Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock valued at $26,000 after purchasing an additional 170 shares in the last quarter. Bard Associates Inc. purchased a new position in shares of Sysco during the 4th quarter valued at approximately $27,000. Markowski Investments acquired a new position in shares of Sysco in the 2nd quarter valued at $31,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Sysco in the 2nd quarter valued at $32,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Company Profile

Sysco Corporation is a global foodservice distributor headquartered in Houston, Texas. The company supplies restaurants, hotels, healthcare facilities, educational institutions, government organizations and other foodservice customers with a broad range of products and related services.

Sysco's offerings include fresh and frozen foods, meat and seafood, dairy products, produce, canned and dry goods, beverages, specialty and international foods, and prepared and ready-to-use items. The company also distributes nonfood products such as kitchen equipment, tableware, cleaning supplies and other operating supplies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.