Truist Financial Lowers Sysco (NYSE:SYY) Price Target to $87.00

Sysco (NYSE:SYY) had its price target lowered by analysts at Truist Financial from $91.00 to $87.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 15.45% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. UBS Group reduced their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. raised their price target on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Stephens raised their price target on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, BMO Capital Markets raised their price target on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.56.

Sysco Stock Up 1.5 %

NYSE:SYY traded up $1.11 during trading hours on Thursday, reaching $75.36. The company had a trading volume of 2,709,679 shares, compared to its average volume of 2,778,819. The company has a quick ratio of 0.80, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. The firm has a market cap of $37.53 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.89 and a beta of 1.16. The business’s 50-day simple moving average is $78.76 and its two-hundred day simple moving average is $75.09. Sysco has a twelve month low of $62.24 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. On average, equities analysts expect that Sysco will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Neil Russell sold 1,722 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.58% of the company’s stock.

Institutional Trading of Sysco

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealthfront Advisers LLC boosted its stake in Sysco by 263.4% during the third quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after buying an additional 24,650 shares during the period. Professional Advisory Services Inc. purchased a new position in shares of Sysco during the fourth quarter worth about $20,057,000. Harbour Trust & Investment Management Co bought a new position in shares of Sysco in the fourth quarter worth approximately $4,623,000. Pacer Advisors Inc. raised its stake in Sysco by 40.1% in the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after purchasing an additional 23,558 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sysco by 16.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after purchasing an additional 41,618 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

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.