Sysco (NYSE:SYY) Rating Lowered to "Hold" at Wall Street Zen

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

SYY has been the topic of a number of other reports. Guggenheim reaffirmed a "buy" rating and issued a $82.00 target price on shares of Sysco in a research report on Tuesday, July 8th. JPMorgan Chase & Co. upped their price target on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. Finally, BMO Capital Markets dropped their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $82.77.

Sysco Stock Down 0.9%

NYSE:SYY opened at $76.80 on Friday. The firm's 50-day moving average price is $73.90 and its 200-day moving average price is $73.27. The company has a market capitalization of $37.23 billion, a PE ratio of 19.90, a P/E/G ratio of 2.32 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. Sysco has a 1-year low of $67.12 and a 1-year high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share. On average, equities analysts predict that Sysco will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director directly owned 12,738 shares of the company's stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SYY. Petredis Investment Advisors LLC lifted its position in Sysco by 1.1% in the second quarter. Petredis Investment Advisors LLC now owns 28,705 shares of the company's stock worth $2,174,000 after buying an additional 321 shares during the last quarter. Walter Public Investments Inc. lifted its position in Sysco by 6.0% in the second quarter. Walter Public Investments Inc. now owns 176,751 shares of the company's stock worth $13,387,000 after buying an additional 9,928 shares during the last quarter. Mitchell & Pahl Private Wealth LLC lifted its position in Sysco by 3.7% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 24,146 shares of the company's stock worth $1,829,000 after buying an additional 855 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Sysco by 38.2% in the second quarter. Farther Finance Advisors LLC now owns 7,602 shares of the company's stock worth $576,000 after buying an additional 2,100 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in Sysco by 0.9% in the second quarter. Wedge Capital Management L L P NC now owns 155,150 shares of the company's stock worth $11,751,000 after buying an additional 1,445 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other 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.

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