Sysco (NYSE:SYY) Receives a Lower Rating From Pivotal Research Group. Will Other Analysts Follow Suit?

August 10, 2018 - By Alfred Lee

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Investors sentiment decreased to 0.8 in 2018 Q1. Its down 0.10, from 0.9 in 2017Q4. It is negative, as 57 investors sold Sysco Corporation shares while 363 reduced holdings. 89 funds opened positions while 245 raised stakes. 408.53 million shares or 2.03% more from 400.42 million shares in 2017Q4 were reported.

Stock Yards Bank & Trust And Trust Co stated it has 4,859 shares. Clifford Swan Invest Counsel Limited Company holds 0.7% of its portfolio in Sysco Corporation (NYSE:SYY) for 205,878 shares. Becker Capital Mngmt Incorporated owns 7,835 shares or 0.02% of their US portfolio. Moreover, Peak Asset Lc has 0.08% invested in Sysco Corporation (NYSE:SYY). Renaissance Tech Ltd Limited Liability Company reported 624,300 shares stake. Keybank Association Oh reported 45,098 shares. Paradigm Asset Mngmt Co Ltd Co holds 28,170 shares or 0% of its portfolio. Toth Financial Advisory holds 1.84% of its portfolio in Sysco Corporation (NYSE:SYY) for 126,281 shares. First Midwest Financial Bank Division stated it has 40,175 shares. American Fincl Bank owns 0% invested in Sysco Corporation (NYSE:SYY) for 103 shares. Linscomb & Williams reported 6,358 shares or 0.03% of all its holdings. Beck Mack & Oliver Ltd Llc invested in 0.56% or 275,022 shares. Gm Advisory Gp reported 4,259 shares. 23,834 were accumulated by Marco Ltd Co. A D Beadell Investment Counsel Inc stated it has 31,550 shares or 1.63% of all its holdings.

Since February 21, 2018, it had 0 insider buys, and 15 insider sales for $311.94 million activity. TILGHMAN RICHARD G sold $303,100 worth of stock or 5,000 shares. Shurts Wayne also sold $921,492 worth of Sysco Corporation (NYSE:SYY) shares. $1.19 million worth of Sysco Corporation (NYSE:SYY) was sold by Grade Joel T.. $150.74M worth of stock was sold by Frank Joshua D. on Tuesday, June 12. PELTZ NELSON sold $150.74 million worth of stock or 2.28 million shares.

Sysco (NYSE:SYY) Receives a Downgrade

Shares of Sysco (NYSE:SYY) were lowered to a Sell rating by analysts at Pivotal Research Group. They now have a target of $58 on SYY. The past rating by Pivotal Research Group was a Hold and will no longer be valid.

Sysco Corporation (NYSE:SYY) Ratings Coverage

Among 3 analysts covering Sysco (NYSE:SYY), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Sysco has $70 highest and $61 lowest target. $68.67’s average target is 0.28% above currents $68.48 stock price. Sysco had 6 analyst reports since March 27, 2018 according to SRatingsIntel. The rating was maintained by Citigroup with “Neutral” on Tuesday, March 27. The firm has “Equal-Weight” rating by Morgan Stanley given on Tuesday, July 17. Citigroup maintained the shares of SYY in report on Tuesday, June 19 with “Neutral” rating. The firm has “Outperform” rating by Credit Suisse given on Tuesday, May 8. The stock has “Equal-Weight” rating by Morgan Stanley on Tuesday, May 8.

The stock decreased 2.21% or $1.55 during the last trading session, reaching $68.48. About 3.85M shares traded or 76.92% up from the average. Sysco Corporation (NYSE:SYY) has risen 19.79% since August 10, 2017 and is uptrending. It has outperformed by 7.22% the S&P500.

Analysts await Sysco Corporation (NYSE:SYY) to report earnings on August, 13 before the open. They expect $0.94 earnings per share, up 30.56 % or $0.22 from last year’s $0.72 per share. SYY’s profit will be $489.73 million for 18.21 P/E if the $0.94 EPS becomes a reality. After $0.67 actual earnings per share reported by Sysco Corporation for the previous quarter, Wall Street now forecasts 40.30 % EPS growth.

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg. The company has market cap of $35.68 billion. It operates through three divisions: U.S. It has a 28.41 P/E ratio. Foodservice Operations, International Foodservice Operations, and SYGMA.

Another recent and important Sysco Corporation (NYSE:SYY) news was published by which published an article titled: “Sysco Announces Official Launch of New Brand Tagline” on August 10, 2018.

Sysco Corporation (NYSE:SYY) Institutional Positions Chart

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