Sysco (NYSE:SYY) Raised to Buy at Wall Street Zen

Sysco (NYSE:SYY) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also commented on SYY. JPMorgan Chase & Co. lowered their price objective on Sysco from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Weiss Ratings lowered Sysco from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 28th. Piper Sandler upped their target price on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Melius Research downgraded Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Finally, Guggenheim reissued a “buy” rating and issued a $90.00 price target on shares of Sysco in a research report on Wednesday, September 16th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.17.

Sysco Stock Up 0.0%

SYY stock opened at $77.52 on Friday. The firm has a market cap of $38.13 billion, a PE ratio of 21.18, a PEG ratio of 2.70 and a beta of 0.64. Sysco has a 1 year low of $68.19 and a 1 year high of $91.85. The company has a fifty day simple moving average of $81.75 and a 200 day simple moving average of $79.10. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Sell-side analysts anticipate that Sysco will post 5.1 EPS for the current fiscal year.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald Phillips sold 960 shares of Sysco stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $83.00, for a total value of $79,680.00. Following the transaction, the executive vice president directly owned 49,852 shares of the company’s stock, valued at $4,137,716. The trade was a 1.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 15,525 shares of company stock valued at $1,299,736. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Sysco

Hedge funds have recently modified their holdings of the business. N.E.W. Advisory Services LLC acquired a new position in Sysco during the 2nd quarter valued at $29,000. Sunbelt Securities Inc. boosted its holdings in Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 170 shares during the period. Bard Associates Inc. acquired a new stake in Sysco in the 4th quarter worth $27,000. Markowski Investments acquired a new stake in Sysco in the 2nd quarter worth $31,000. Finally, Parvin Asset Management LLC bought a new position in shares of Sysco during the 2nd quarter worth about $32,000. 83.41% of the stock is owned by institutional investors.

About Sysco

Sysco Corporation is a global foodservice distributor headquartered in Houston, Texas. The company supplies restaurants, hotels, healthcare facilities, educational institutions, government organizations and other foodservice customers with a broad range of products and related services.

Sysco’s offerings include fresh and frozen foods, meat and seafood, dairy products, produce, canned and dry goods, beverages, specialty and international foods, and prepared and ready-to-use items. The company also distributes nonfood products such as kitchen equipment, tableware, cleaning supplies and other operating supplies.