Sysco (NYSE:SYY) Stock Gets Downgrade from Wall Street Zen

Sysco (NYSE:SYY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

SYY has been the topic of several other research reports. Morgan Stanley lifted their target price on shares of Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. lowered their price target on Sysco from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Guggenheim restated a “buy” rating and issued a $90.00 price target on shares of Sysco in a research note on Wednesday, September 16th. Citigroup lifted their price objective on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 15th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.42.

Sysco Price Performance

SYY opened at $81.38 on Friday. The company’s 50-day simple moving average is $80.49 and its two-hundred day simple moving average is $79.33. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The stock has a market capitalization of $40.04 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.79 and a beta of 0.64. Sysco has a 52-week low of $68.19 and a 52-week high of $91.85.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $21.95 billion. During the same period in the previous year, the business posted $1.48 earnings per share. The business’s revenue for the quarter 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. As a group, analysts predict that Sysco will post 5.09 EPS for the current year.

Insider Buying and Selling

In other Sysco news, EVP Ronald Phillips sold 960 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $83.00, for a total transaction of $79,680.00. Following the completion of the sale, the executive vice president directly owned 49,852 shares of the company’s stock, valued at approximately $4,137,716. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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. Insiders have sold 15,525 shares of company stock worth $1,299,736 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sysco

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Sysco during the 2nd quarter worth approximately $3,596,356,000. Bank of America Corp DE purchased a new position in Sysco in the 2nd quarter worth approximately $482,589,000. Dimensional Fund Advisors LP boosted its stake in Sysco by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,667,412 shares of the company’s stock worth $332,871,000 after purchasing an additional 59,685 shares during the period. Primecap Management Co. CA bought a new position in Sysco in the 2nd quarter worth approximately $313,503,000. Finally, Bank of New York Mellon Corp purchased a new stake in Sysco during the 2nd quarter valued at approximately $273,323,000. 83.41% of the stock is owned by institutional investors.

Sysco Company Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.