JPMorgan Chase & Co. Has Lowered Expectations for Sysco (NYSE:SYY) Stock Price

Sysco (NYSE:SYY) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $86.00 to $82.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 14.88% from the company’s current price.

A number of other research analysts have also recently issued reports on SYY. 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 report on Wednesday, January 29th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Melius initiated coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Finally, Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.38.

Sysco Stock Performance

SYY opened at $71.38 on Tuesday. The business’s fifty day moving average is $76.11 and its 200-day moving average is $75.99. The firm has a market cap of $34.92 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. Sysco has a 52-week low of $69.03 and a 52-week high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

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

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of Sysco 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 directly owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,270 shares of company stock valued at $6,181,946. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Sysco

A number of hedge funds have recently made changes to their positions in the stock. SRS Capital Advisors Inc. raised its stake in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares in the last quarter. Clifford Swan Investment Counsel LLC raised its position in shares of Sysco by 12.0% during the 4th quarter. Clifford Swan Investment Counsel LLC now owns 215,427 shares of the company’s stock worth $16,472,000 after acquiring an additional 23,047 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Sysco during the fourth quarter worth about $146,000. Smartleaf Asset Management LLC increased its position in shares of Sysco by 35.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,516 shares of the company’s stock worth $268,000 after purchasing an additional 928 shares in the last quarter. Finally, Bridges Investment Management Inc. increased its position in shares of Sysco by 2.7% during the fourth quarter. Bridges Investment Management Inc. now owns 27,553 shares of the company’s stock worth $2,107,000 after purchasing an additional 717 shares in the last quarter. 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.