Wells Fargo & Company Forecasts Strong Price Appreciation for Sysco (NYSE:SYY) Stock

Sysco (NYSE:SYY) had its price objective hoisted by Wells Fargo & Company from $82.00 to $87.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 16.49% from the stock’s current price.

Several other research analysts have also weighed in on the company. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. UBS Group lowered their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley cut their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Melius began coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Stock Performance

Shares of SYY opened at $74.68 on Wednesday. The stock has a market capitalization of $36.54 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 1.88 and a beta of 1.17. Sysco has a 12 month low of $69.03 and a 12 month high of $82.33. The firm has a fifty day simple moving average of $73.69 and a 200 day simple moving average of $75.64. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the business posted $0.89 earnings per share. Research analysts forecast that Sysco will post 4.58 EPS for the current fiscal year.

Insider Activity

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were 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 of the company’s stock, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,370 shares of company stock valued at $5,965,519. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new stake in Sysco in the fourth quarter valued at about $34,000. Liberty Square Wealth Partners LLC bought a new position in shares of Sysco in the fourth quarter worth about $525,000. Ameriflex Group Inc. acquired a new stake in shares of Sysco in the 4th quarter valued at approximately $35,000. Aurdan Capital Management LLC acquired a new stake in shares of Sysco in the 4th quarter valued at approximately $5,321,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Sysco by 14.3% during the 4th quarter. Mackenzie Financial Corp now owns 49,834 shares of the company’s stock valued at $3,810,000 after purchasing an additional 6,236 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

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.