Sysco (NYSE:SYY) Stock Rating Upgraded by Melius Research

Sysco (NYSE:SYY) was upgraded by stock analysts at Melius Research to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Wells Fargo & Company lowered their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Melius began coverage on Sysco in a report on Wednesday. They set a “hold” rating and a $85.00 target price on the stock. Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.93.

Sysco Trading Down 0.7 %

Shares of NYSE:SYY opened at $76.55 on Wednesday. Sysco has a 52-week low of $69.03 and a 52-week high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market cap of $37.60 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.10 and a beta of 1.19. The stock’s 50-day moving average is $76.65 and its 200-day moving average is $75.32.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the previous year, the company posted $1.07 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts predict that Sysco will post 4.57 earnings per share for the current year.

Insider Transactions at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares in the company, valued at approximately $4,846,480. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,279 shares of company stock worth $2,786,971 over the last ninety days. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Koshinski Asset Management Inc. grew its position in Sysco by 3.1% during the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after acquiring an additional 146 shares during the last quarter. Cable Hill Partners LLC boosted its stake in Sysco by 3.9% in the 3rd quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after purchasing an additional 152 shares in the last quarter. Arrow Financial Corp lifted its position in Sysco by 0.8% during the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock valued at $1,427,000 after purchasing an additional 155 shares during the period. KCM Investment Advisors LLC grew its holdings in shares of Sysco by 1.5% in the second quarter. KCM Investment Advisors LLC now owns 10,911 shares of the company’s stock worth $779,000 after acquiring an additional 161 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in Sysco by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 42,751 shares of the company’s stock worth $3,052,000 after acquiring an additional 172 shares during the period. 83.41% of the stock is currently 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.