Melius Initiates Coverage on Sysco (NYSE:SYY)

Stock analysts at Melius began coverage on shares of Sysco (NYSE:SYY) in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “hold” rating and a $85.00 price target on the stock. Melius’ target price indicates a potential upside of 11.04% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group upped their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company decreased their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.93.

Sysco Stock Performance

NYSE:SYY opened at $76.55 on Wednesday. The stock has a market cap of $37.60 billion, a P/E ratio of 19.68, a PEG ratio of 2.10 and a beta of 1.19. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The business’s 50-day moving average price is $76.65 and its two-hundred day moving average price is $75.32. Sysco has a twelve month low of $69.03 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. As a group, equities analysts predict that Sysco will post 4.57 EPS for the current fiscal year.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the sale, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction dated 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 $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,279 shares of company stock worth $2,786,971. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

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