Sysco Corporation (NYSE:SYY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Sysco Corporation (NYSE:SYY) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $85.38.

A number of equities analysts have commented on SYY shares. Morgan Stanley lifted their price objective on shares of Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Wells Fargo & Company raised their price objective on Sysco from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. Guggenheim reaffirmed a “buy” rating and set a $82.00 price objective on shares of Sysco in a research note on Tuesday, July 8th. Finally, Truist Financial increased their target price on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday.

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the sale, the executive vice president owned 30,235 shares in the company, valued at approximately $2,449,035. This represents a 55.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the executive vice president directly owned 56,304 shares of the company’s stock, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH lifted its holdings in Sysco by 106.4% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock valued at $236,000 after purchasing an additional 1,622 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Sysco by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company’s stock worth $16,772,000 after buying an additional 4,932 shares during the last quarter. Fiduciary Trust Co increased its stake in Sysco by 0.3% during the 4th quarter. Fiduciary Trust Co now owns 66,495 shares of the company’s stock worth $5,084,000 after buying an additional 196 shares in the last quarter. UniSuper Management Pty Ltd raised its holdings in shares of Sysco by 23.2% during the fourth quarter. UniSuper Management Pty Ltd now owns 42,904 shares of the company’s stock valued at $3,280,000 after acquiring an additional 8,076 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Sysco in the first quarter worth approximately $202,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 2.2%

SYY opened at $80.10 on Thursday. The stock has a market cap of $38.83 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.37 and a beta of 0.81. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.76 and a current ratio of 1.21. The firm’s fifty day moving average is $75.81 and its 200 day moving average is $73.59. Sysco has a fifty-two week low of $67.12 and a fifty-two week high of $82.23.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. The company had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. Sysco’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 EPS. On average, sell-side analysts forecast that Sysco will post 4.58 earnings per share for the current fiscal year.

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.