Sysco Corporation (NYSE:SYY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Sysco Corporation (NYSE:SYY) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $85.6923.

SYY has been the topic of several recent analyst reports. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Truist Financial upped their price objective on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Guggenheim upped their price objective on shares of Sysco from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, August 6th.

Sysco Price Performance

Shares of NYSE:SYY opened at $79.49 on Monday. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The firm has a fifty day moving average price of $77.65 and a 200 day moving average price of $74.15. Sysco has a fifty-two week low of $67.12 and a fifty-two week high of $82.64. The firm has a market cap of $38.53 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 2.46 and a beta of 0.83.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same quarter last year, the business earned $1.39 earnings per share. Sysco’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that Sysco will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares of the company’s stock, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The transaction 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 dated 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 sale, the executive vice president owned 56,304 shares of the company’s stock, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,026 shares of company stock worth $6,766,059. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Sysco by 2.0% during the second quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after acquiring an additional 1,226,381 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Sysco by 1.0% in the first quarter. Invesco Ltd. now owns 17,070,502 shares of the company’s stock valued at $1,280,970,000 after purchasing an additional 162,961 shares in the last quarter. Boston Partners grew its holdings in shares of Sysco by 24.8% in the first quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after purchasing an additional 3,015,714 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Sysco by 1.5% in the second quarter. Geode Capital Management LLC now owns 12,551,872 shares of the company’s stock valued at $946,694,000 after purchasing an additional 183,179 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of Sysco by 27.3% in the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock valued at $687,488,000 after purchasing an additional 1,928,002 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.