Barclays Has Lowered Expectations for Sysco (NYSE:SYY) Stock Price

Sysco (NYSE:SYY) had its price target reduced by Barclays from $93.00 to $85.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 15.91% from the stock’s current price.

SYY has been the subject of a number of other research reports. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Melius began coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.21.

Sysco Stock Up 2.0 %

Shares of NYSE:SYY opened at $73.33 on Wednesday. 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 fifty day simple moving average of $76.40 and a 200 day simple moving average of $76.00. The firm has a market cap of $36.02 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. 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, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same period last year, the firm earned $0.89 earnings per share. On average, equities research analysts anticipate that Sysco will post 4.57 EPS for the current fiscal year.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock worth $6,181,946 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sysco

Hedge funds and other institutional investors have recently bought and sold shares of the business. Armstrong Advisory Group Inc. raised its holdings in Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares during the period. Ashton Thomas Securities LLC purchased a new position in Sysco during the 3rd quarter valued at about $26,000. Valley Wealth Managers Inc. purchased a new position in Sysco during the 3rd quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new position in Sysco during the 4th quarter valued at about $31,000. Finally, Focused Wealth Management Inc purchased a new position in Sysco during the 3rd quarter valued at about $37,000. 83.41% of the stock is currently owned by institutional investors.

About Sysco

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.