Morgan Stanley Lowers Sysco (NYSE:SYY) Price Target to $77.00

Sysco (NYSE:SYY) had its price target decreased by equities research analysts at Morgan Stanley from $79.00 to $77.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 5.00% from the stock’s previous close.

Several other equities analysts have also weighed in on SYY. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company reduced their price objective on shares of 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 raised their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Truist Financial reduced their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Barclays reduced their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.21.

Sysco Stock Up 2.0 %

SYY stock opened at $73.33 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The firm’s 50-day simple moving average is $76.40 and its 200 day simple moving average is $76.00. The stock 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 (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same quarter in the previous year, the business posted $0.89 EPS. As a group, sell-side analysts predict that Sysco will post 4.57 EPS for the current year.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the transaction, the executive vice president now directly owns 60,581 shares in the company, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,270 shares of company stock valued at $6,181,946. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sysco

Institutional investors have recently modified their holdings of the company. Armstrong Advisory Group Inc. raised its position in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Sysco in the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco in the third quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new position in shares of Sysco in the fourth quarter valued at approximately $31,000. Finally, Focused Wealth Management Inc bought a new position in shares of Sysco in the third quarter valued at approximately $37,000. Institutional investors own 83.41% of the company’s stock.

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.