Wall Street Zen Upgrades Sysco (NYSE:SYY) to Buy

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

Other equities analysts also recently issued reports about the stock. Melius Research downgraded shares of Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. Citigroup lifted their target price on shares of Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. UBS Group upped their price target on shares of Sysco from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Morgan Stanley increased their price target on shares of Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. Finally, Piper Sandler increased their price target on shares of Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.50.

Sysco Stock Performance

Shares of NYSE SYY opened at $81.95 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. Sysco has a 12 month low of $68.19 and a 12 month high of $91.85. The stock has a 50 day moving average of $83.05 and a 200-day moving average of $80.59. The company has a market capitalization of $39.26 billion, a P/E ratio of 22.39, a P/E/G ratio of 2.81 and a beta of 0.64.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating 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 analysts' expectations of $21.95 billion. During the same quarter in the prior year, the business earned $1.48 EPS. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. 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, equities research analysts predict that Sysco will post 5.12 EPS for the current year.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 506 shares of Sysco stock in a transaction on Monday, August 24th. The stock was sold at an average price of $84.09, for a total transaction of $42,549.54. Following the completion of the sale, the executive vice president owned 36,313 shares of the company's stock, valued at approximately $3,053,560.17. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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. Insiders sold a total of 14,508 shares of company stock worth $1,215,250 over the last three months. 0.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sysco

A number of hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC raised its position in shares of Sysco by 53.1% in the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company's stock valued at $1,674,000 after buying an additional 7,742 shares in the last quarter. Schnieders Capital Management LLC. grew its position in Sysco by 24.1% during the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company's stock worth $781,000 after buying an additional 2,000 shares in the last quarter. NewEdge Advisors LLC grew its position in Sysco by 62.4% during the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company's stock worth $2,685,000 after buying an additional 13,616 shares in the last quarter. Sei Investments Co. increased its stake in Sysco by 14.2% during the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company's stock worth $26,092,000 after acquiring an additional 42,903 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company's stock worth $17,166,000 after acquiring an additional 1,710 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Company Profile

Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source