Sysco (NYSE:SYY) Given New $87.00 Price Target at Wells Fargo & Company

Sysco (NYSE:SYY) had its target price raised by Wells Fargo & Company from $82.00 to $87.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on SYY. UBS Group reduced their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Barclays dropped their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Guggenheim restated a “buy” rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Finally, Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Sysco Stock Down 0.3 %

Shares of NYSE SYY opened at $74.23 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The business’s 50 day moving average is $73.72 and its two-hundred day moving average is $75.65. Sysco has a 52-week low of $69.03 and a 52-week high of $82.33. The firm has a market cap of $36.32 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates 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 firm earned $0.89 earnings per share. Research analysts predict that Sysco will post 4.58 EPS for the current year.

Insider Activity

In related news, EVP Greg D. Bertrand sold 21,844 shares of the firm’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 $1,747,520.00. Following the completion of the transaction, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at $4,846,480. This trade represents a 26.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction 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 sale, the senior vice president now 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 disclosure for this sale can be found here. In the last three months, insiders sold 76,370 shares of company stock worth $5,965,519. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Sysco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new position in shares of Sysco during the 3rd quarter worth approximately $26,000. Parvin Asset Management LLC acquired a new position in shares of Sysco in the fourth quarter worth $29,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the third quarter worth $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco in the fourth quarter valued at $31,000. Finally, Sherman Asset Management Inc. acquired a new stake in shares of Sysco during the fourth quarter valued at $31,000. Institutional investors and hedge funds 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.