Sysco (NYSE:SYY) Price Target Cut to $85.00 by Analysts at Barclays

Sysco (NYSE:SYY) had its target price decreased by equities research analysts at Barclays from $88.00 to $85.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 15.90% from the stock’s previous close.

Other analysts also recently issued reports about the company. Morgan Stanley decreased their price objective on Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday. BMO Capital Markets decreased their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday. Truist Financial decreased their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Piper Sandler decreased their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Stephens lifted their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.89.

Sysco Trading Up 0.8 %

Shares of SYY traded up $0.61 during trading hours on Thursday, reaching $73.34. 951,111 shares of the company traded hands, compared to its average volume of 2,939,736. The firm has a market cap of $36.52 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.00 and a beta of 1.16. Sysco has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The stock’s fifty day moving average price is $77.39 and its 200 day moving average price is $76.13.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. Sell-side analysts forecast that Sysco will post 4.31 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Sysco

A number of large investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC boosted its position in Sysco by 1.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after buying an additional 124 shares during the last quarter. Hunter Associates Investment Management LLC boosted its position in Sysco by 1.5% in the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after buying an additional 125 shares during the last quarter. Bell Investment Advisors Inc boosted its position in Sysco by 8.2% in the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after buying an additional 131 shares during the last quarter. Beacon Investment Advisors LLC boosted its position in Sysco by 0.5% in the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after buying an additional 133 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its position in Sysco by 6.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock valued at $165,000 after buying an additional 135 shares during the last quarter. 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.