Sysco (NYSE:SYY) Price Target Lowered to $87.00 at Truist Financial

Sysco (NYSE:SYY) had its target price reduced by investment analysts at Truist Financial from $91.00 to $87.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 18.51% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler dropped their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday. BMO Capital Markets lifted their target price on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Barclays lifted their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, UBS Group decreased their price target on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.90.

Sysco Stock Up 0.5 %

Sysco stock traded up $0.36 during midday trading on Thursday, hitting $73.41. 182,376 shares of the stock were exchanged, compared to its average volume of 2,938,950. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.80. The company has a 50 day moving average price of $78.89 and a two-hundred day moving average price of $75.09. The firm has a market cap of $36.55 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.50 and a beta of 1.16. Sysco has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. On average, sell-side analysts predict that Sysco will post 4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sysco news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sysco

Several large investors have recently made changes to their positions in SYY. First United Bank & Trust acquired a new stake in Sysco in the fourth quarter valued at approximately $26,000. Verity & Verity LLC bought a new stake in Sysco in the first quarter worth $26,000. AdvisorNet Financial Inc increased its position in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after buying an additional 159 shares during the last quarter. Burkett Financial Services LLC acquired a new stake in shares of Sysco in the fourth quarter worth about $30,000. Finally, OFI Invest Asset Management bought a new stake in Sysco during the first quarter worth approximately $31,000. 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.