Wells Fargo & Company Issues Pessimistic Forecast for Sysco (NYSE:SYY) Stock Price

Sysco (NYSE:SYY) had its price objective lowered by investment analysts at Wells Fargo & Company from $87.00 to $82.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.44% from the company’s previous close.

Several other research firms have also weighed in on SYY. Barclays lifted their price target on 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. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Finally, Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Sysco Trading Up 0.9 %

NYSE SYY opened at $74.93 on Wednesday. The firm has a market capitalization of $36.81 billion, a P/E ratio of 19.26, a PEG ratio of 1.93 and a beta of 1.20. The business has a fifty day simple moving average of $76.23 and a 200 day simple moving average of $74.75. Sysco has a 12 month low of $64.28 and a 12 month high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that Sysco will post 4.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Sysco

Several hedge funds have recently made changes to their positions in the business. ORG Partners LLC grew its holdings in shares of Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after buying an additional 6,855 shares in the last quarter. Mizuho Markets Americas LLC lifted its holdings in Sysco by 102.1% in the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after acquiring an additional 18,296 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Sysco in the 1st quarter valued at about $1,677,000. Finally, Shell Asset Management Co. lifted its holdings in Sysco by 205.0% in the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after acquiring an additional 9,615 shares during the last quarter. Institutional investors and hedge funds 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.