Sysco (NYSE:SYY) Rating Lowered to “Buy” at StockNews.com

StockNews.com downgraded shares of Sysco (NYSE:SYY) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

Several other research firms also recently weighed in on SYY. Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Guggenheim restated a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Trading Down 1.8 %

Shares of Sysco stock opened at $71.12 on Thursday. The firm has a 50-day simple moving average of $73.15 and a two-hundred day simple moving average of $75.41. The company has a market cap of $34.79 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the company earned $0.89 earnings per share. As a group, equities analysts predict that Sysco will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. Sysco’s dividend payout ratio is currently 52.44%.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sysco

Hedge funds have recently added to or reduced their stakes in the business. Parvin Asset Management LLC acquired a new stake in Sysco during the 4th quarter worth approximately $29,000. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco in the 4th quarter valued at $31,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Sysco in the 4th quarter valued at $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the 4th quarter valued at $31,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

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.