Sysco (NYSE:SYY – Get Free Report) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.
A number of other brokerages also recently commented on SYY. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Melius began coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.93.
Check Out Our Latest Analysis on SYY
Sysco Stock Up 0.2 %
Sysco (NYSE:SYY – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.07 EPS. On average, research analysts forecast that Sysco will post 4.57 earnings per share for the current fiscal year.
Insider Buying and Selling at Sysco
In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock valued at $6,485,050 in the last three months. 0.54% of the stock is currently owned by company insiders.
Institutional Trading of Sysco
Large investors have recently modified their holdings of the stock. State Street Corp raised its stake in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after buying an additional 2,408,226 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after buying an additional 1,782,180 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Sysco during the 3rd quarter worth approximately $137,900,000. Finally, Primecap Management Co. CA increased its stake in Sysco by 37.5% in the second quarter. Primecap Management Co. CA now owns 4,373,485 shares of the company’s stock valued at $312,223,000 after acquiring an additional 1,192,650 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.
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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