Guggenheim Reiterates Buy Rating for Sysco (NYSE:SYY)

Sysco (NYSE:SYY)‘s stock had its “buy” rating reissued by analysts at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $85.00 price target on the stock. Guggenheim’s price target suggests a potential upside of 17.72% from the company’s current price.

Other analysts have also issued reports about the stock. Barclays cut their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company lowered their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group raised their target price 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. UBS Group cut their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley dropped their price target on Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $85.36.

Sysco Stock Performance

Shares of SYY traded down $0.08 during mid-day trading on Wednesday, hitting $72.20. The stock had a trading volume of 1,648,290 shares, compared to its average volume of 3,079,051. The firm has a market cap of $35.47 billion, a P/E ratio of 18.56, a PEG ratio of 2.04 and a beta of 1.18. 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 current ratio of 1.26 and a quick ratio of 0.73. The business has a fifty day moving average price of $76.43 and a 200-day moving average price of $76.03.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same quarter last year, the business posted $0.89 EPS. On average, equities research analysts expect that Sysco will post 4.57 EPS for the current year.

Insider Buying and Selling at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,306 shares of company stock worth $6,485,050. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

Large investors have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. raised its stake in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco during the third quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the third quarter valued at about $31,000. Focused Wealth Management Inc purchased a new position in Sysco during the 3rd quarter worth approximately $37,000. Finally, Canoe Financial LP purchased a new position in shares of Sysco during the third quarter worth $38,000. 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.