Barclays Lowers Sysco (NYSE:SYY) Price Target to $85.00

Sysco (NYSE:SYY) had its price target reduced by analysts at Barclays from $93.00 to $85.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 17.49% from the stock’s previous close.

SYY has been the subject of a number of other research reports. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley reduced their target price on shares of Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $85.57.

Sysco Stock Down 5.9 %

Shares of Sysco stock opened at $72.35 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a market cap of $35.54 billion, a P/E ratio of 18.60, a PEG ratio of 2.04 and a beta of 1.18. The company’s fifty day simple moving average is $76.43 and its two-hundred day simple moving average is $76.03.

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 2.44% and a return on equity of 101.04%. During the same quarter in the previous year, the company earned $0.89 EPS. Research analysts anticipate that Sysco will post 4.57 EPS for the current year.

Insider Activity at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,876,080. The trade was a 11.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock worth $6,485,050 over the last quarter. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. National Pension Service boosted its stake in Sysco by 15.6% in the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after purchasing an additional 166,798 shares during the period. New England Asset Management Inc. lifted its holdings in shares of Sysco by 12.7% in the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after buying an additional 14,810 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Sysco by 29.0% during the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after acquiring an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after acquiring an additional 672,940 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after acquiring an additional 8,891 shares during the last quarter. 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.