Guggenheim Reiterates "Buy" Rating for Sysco (NYSE:SYY)

Sysco (NYSE:SYY - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Guggenheim in a report issued on Tuesday,Benzinga reports. They currently have a $82.00 price objective on the stock. Guggenheim's target price indicates a potential upside of 7.69% from the stock's previous close.

A number of other brokerages have also recently weighed in on SYY. BMO Capital Markets dropped their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. UBS Group reduced their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Sysco has a consensus rating of "Moderate Buy" and a consensus target price of $82.77.

Sysco Trading Down 0.5%

Shares of SYY stock traded down $0.38 during trading hours on Tuesday, hitting $76.15. The company had a trading volume of 481,921 shares, compared to its average volume of 3,228,120. Sysco has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company's fifty day moving average is $73.53 and its 200 day moving average is $73.28. The stock has a market capitalization of $36.91 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.31 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 (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The firm had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. Sysco's revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. Research analysts expect that Sysco will post 4.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director directly owned 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company's stock.

Institutional Trading of Sysco

Large investors have recently bought and sold shares of the business. Buckley Wealth Management LLC raised its holdings in Sysco by 0.8% during the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock worth $1,391,000 after purchasing an additional 150 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Sysco in the 4th quarter worth approximately $54,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Sysco by 2.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock valued at $16,772,000 after buying an additional 4,932 shares in the last quarter. Fiduciary Trust Co lifted its holdings in shares of Sysco by 0.3% in the fourth quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock valued at $5,084,000 after purchasing an additional 196 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its stake in Sysco by 23.2% in the 4th quarter. UniSuper Management Pty Ltd now owns 42,904 shares of the company's stock valued at $3,280,000 after buying an additional 8,076 shares in the last quarter. Institutional investors and hedge funds 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.