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 report published on Tuesday morning.

Several other analysts have also commented on SYY. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Stock Performance

NYSE SYY opened at $80.82 on Tuesday. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The firm has a market capitalization of $39.70 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The stock’s fifty day moving average is $76.12 and its two-hundred day moving average is $74.99. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the prior year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, research analysts anticipate that Sysco will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.52%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the 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 sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,279 shares of company stock valued at $2,786,971 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SYY. TruNorth Capital Management LLC acquired a new stake in shares of Sysco in the 2nd quarter valued at $25,000. 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 valued at $26,000 after buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Sysco in the third quarter valued at $26,000. Valley Wealth Managers Inc. purchased a new stake in Sysco during the 3rd quarter worth about $31,000. Finally, Focused Wealth Management Inc acquired a new position in shares of Sysco during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

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.