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

Sysco (NYSE:SYY) had its price objective decreased by equities research analysts at Truist Financial from $85.00 to $83.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 13.18% from the company’s previous close.

Several other research analysts also recently commented on the company. Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Barclays reduced their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four research 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 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. The business has a 50 day moving average price of $76.40 and a two-hundred day moving average price of $76.00. The company has a market cap of $36.02 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 2.04 and a beta of 1.18. Sysco has a twelve month low of $69.03 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same period in the prior year, the business earned $0.89 earnings per share. Analysts anticipate that Sysco will post 4.57 EPS for the current fiscal year.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the sale, the executive vice president now owns 60,581 shares in the company, valued at $4,846,480. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock valued at $6,181,946 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp grew its position in shares of Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Sysco by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after purchasing an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its position in shares of Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after purchasing an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Sysco by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after purchasing an additional 168,163 shares in the last quarter. 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.