Sysco (NYSE:SYY) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Sysco (NYSE:SYY) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday.

Several other research firms have also issued reports on SYY. UBS Group lowered their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company raised their price target on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group lifted 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. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Down 0.6 %

NYSE:SYY opened at $74.48 on Wednesday. The firm’s 50 day simple moving average is $73.52 and its 200 day simple moving average is $75.62. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco has a one year low of $69.03 and a one year high of $82.33. The company has a market cap of $36.44 billion, a PE ratio of 19.15, a P/E/G ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, research analysts anticipate that Sysco will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.74%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sysco

Hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Sysco during the 3rd quarter worth $26,000. Parvin Asset Management LLC purchased a new position in Sysco during the 4th quarter worth $29,000. Valley Wealth Managers Inc. purchased a new position in Sysco during the 3rd quarter worth $31,000. Stonebridge Financial Group LLC purchased a new position in Sysco during the 4th quarter worth $31,000. Finally, Sherman Asset Management Inc. purchased a new position in Sysco during the 4th quarter worth $31,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

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.