Sysco (NYSE:SYY) Rating Lowered to Hold (C+) at Weiss Ratings

Sysco (NYSE:SYY) was downgraded by stock analysts at Weiss Ratings from a “buy (b-)” rating to a “hold (c+)” rating in a report issued on Wednesday,Weiss Ratings reports.

A number of other brokerages have also commented on SYY. UBS Group set a $90.00 price objective on shares of Sysco in a research report on Wednesday, July 30th. Guggenheim increased their price target on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Truist Financial increased their price target on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $85.85.

Sysco Trading Down 0.9%

Shares of NYSE:SYY opened at $78.05 on Wednesday. The stock has a market capitalization of $37.35 billion, a PE ratio of 20.92, a P/E/G ratio of 2.44 and a beta of 0.82. Sysco has a 1 year low of $67.12 and a 1 year high of $83.47. The firm has a fifty day moving average price of $80.84 and a 200 day moving average price of $76.31. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm had revenue of $21.14 billion during the quarter, compared to analysts’ expectations of $21.01 billion. During the same period in the prior year, the company posted $1.39 earnings per share. Sysco’s revenue for the quarter was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts expect that Sysco will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the transaction, the executive vice president directly owned 41,501 shares in the company, valued at approximately $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,338 shares of company stock valued at $7,439,331. 0.54% of the stock is currently owned by insiders.

Institutional Trading of Sysco

Institutional investors and hedge funds have recently made changes to their positions in the company. Boyd Watterson Asset Management LLC OH increased its holdings in Sysco by 106.4% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock worth $236,000 after buying an additional 1,622 shares during the last quarter. Gradient Investments LLC lifted its holdings in shares of Sysco by 9.2% in the 2nd quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock worth $14,328,000 after acquiring an additional 15,906 shares during the last quarter. Beacon Financial Group raised its holdings in Sysco by 55.5% during the 2nd quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock valued at $754,000 after buying an additional 3,554 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Sysco by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company’s stock valued at $16,772,000 after purchasing an additional 4,932 shares during the period. Finally, Gallacher Capital Management LLC purchased a new stake in shares of Sysco in the 2nd quarter worth about $730,000. Hedge funds and other 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.