Sysco (NYSE:SYY) Coverage Initiated by Analysts at Melius

Melius assumed coverage on shares of Sysco (NYSE:SYY) in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a “hold” rating and a $85.00 price target on the stock. Melius’ target price points to a potential upside of 8.93% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company cut their price target on shares of 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 upped their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.93.

Sysco Stock Down 1.5 %

NYSE SYY opened at $78.03 on Wednesday. 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 has a 52 week low of $69.03 and a 52 week high of $82.89. The stock has a market capitalization of $38.33 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 2.10 and a beta of 1.19. The stock has a fifty day moving average of $76.55 and a 200-day moving average of $75.30.

Sysco (NYSE:SYY) last released its earnings results 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 business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that Sysco will post 4.57 EPS for the current year.

Insider Buying and Selling

In other news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,279 shares of company stock worth $2,786,971. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. National Pension Service boosted its position in shares of Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after acquiring an additional 166,798 shares in the last quarter. New England Asset Management Inc. boosted its holdings in shares of Sysco by 12.7% in the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after purchasing an additional 14,810 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Sysco by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after purchasing an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in Sysco by 7.7% in the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after buying an additional 8,891 shares in the last quarter. 83.41% of the stock is owned by 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.