Sysco Co. (NYSE:SYY) Receives $85.77 Average Target Price from Brokerages

Shares of Sysco Co. (NYSE:SYY) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $85.77.

A number of research analysts recently weighed in on SYY shares. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st.

Insider Activity

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SYY. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Sysco by 3.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,045 shares of the company’s stock worth $5,118,000 after purchasing an additional 1,862 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Sysco by 10.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 27,360 shares of the company’s stock valued at $2,221,000 after buying an additional 2,552 shares in the last quarter. Banco Santander S.A. bought a new position in shares of Sysco during the 1st quarter valued at approximately $438,000. First Foundation Advisors increased its holdings in Sysco by 17.5% in the 1st quarter. First Foundation Advisors now owns 4,517 shares of the company’s stock worth $367,000 after acquiring an additional 674 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in Sysco during the 1st quarter worth approximately $214,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

SYY opened at $75.76 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The company has a market cap of $37.22 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. The stock has a fifty day simple moving average of $75.87 and a two-hundred day simple moving average of $74.75. Sysco has a 12-month low of $69.03 and a 12-month high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same period last year, the business earned $1.07 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Research analysts predict that Sysco will post 4.57 earnings per share for the current fiscal year.

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.