UBS Group Issues Pessimistic Forecast for Sysco (NYSE:SYY) Stock Price

Sysco (NYSE:SYY) had its price objective lowered by equities researchers at UBS Group from $87.00 to $86.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 17.27% from the company’s current price.

SYY has been the topic of several other reports. Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday. Melius began coverage on Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Barclays lowered their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $85.21.

Sysco Stock Performance

Sysco 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 company has a market capitalization of $36.02 billion, a P/E ratio of 18.85, a PEG ratio of 2.04 and a beta of 1.18. The stock’s 50 day moving average is $76.40 and its 200 day moving average is $76.00. 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, hitting the consensus estimate 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 company posted $0.89 EPS. On average, equities research analysts predict that Sysco will post 4.57 earnings per share for the current fiscal year.

Insider Transactions at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Armstrong Advisory Group Inc. grew its position in shares of Sysco by 1,240.0% during 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 in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Sysco during the third quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new position in shares of Sysco during the fourth quarter valued at about $31,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco during the third quarter valued at about $31,000. Finally, Focused Wealth Management Inc purchased a new position in shares of Sysco during the third quarter valued at about $37,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

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.