Stephens reiterated their overweight rating on shares of Sysco (NYSE:SYY – Free Report) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $90.00 price target on the stock.
SYY has been the subject of several other reports. 51job reiterated a maintains rating on shares of Sysco in a research note on Wednesday, May 3rd. Morgan Stanley lowered their target price on Sysco from $81.00 to $79.00 in a research note on Tuesday, June 20th. StockNews.com assumed coverage on Sysco in a research note on Thursday, May 18th. They issued a strong-buy rating for the company. TheStreet upgraded Sysco from a c+ rating to a b rating in a research note on Tuesday, May 2nd. Finally, Barclays decreased their price target on Sysco from $87.00 to $85.00 in a report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $86.91.
Sysco Stock Down 0.6 %
SYY opened at $73.78 on Tuesday. Sysco has a 1-year low of $69.22 and a 1-year high of $87.41. The company has a current ratio of 1.24, a quick ratio of 0.70 and a debt-to-equity ratio of 5.15. The stock has a market capitalization of $37.38 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 1.39 and a beta of 1.11. The business has a 50 day moving average of $73.57 and a 200-day moving average of $75.01.
Sysco (NYSE:SYY – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The company had revenue of $19.73 billion during the quarter, compared to analysts’ expectations of $19.95 billion. Sysco had a return on equity of 133.27% and a net margin of 2.32%. Sysco’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 earnings per share. As a group, sell-side analysts anticipate that Sysco will post 4.29 earnings per share for the current year.
Institutional Investors Weigh In On Sysco
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Sysco by 93,506.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 132,992,967 shares of the company’s stock worth $9,868,078,000 after purchasing an additional 132,850,890 shares during the last quarter. Aristotle Capital Management LLC boosted its stake in shares of Sysco by 422.4% during the 4th quarter. Aristotle Capital Management LLC now owns 11,444,739 shares of the company’s stock worth $874,950,000 after acquiring an additional 9,253,988 shares during the period. Parnassus Investments LLC boosted its stake in shares of Sysco by 144.3% during the 4th quarter. Parnassus Investments LLC now owns 13,076,228 shares of the company’s stock worth $999,678,000 after acquiring an additional 7,723,075 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of Sysco by 70,686.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,967,508 shares of the company’s stock worth $532,666,000 after acquiring an additional 6,957,665 shares during the period. Finally, Norges Bank bought a new position in shares of Sysco during the 4th quarter worth approximately $397,373,000. Institutional investors and hedge funds own 84.79% of the company’s stock.
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.
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