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

Sysco (NYSE:SYY) had its price target hoisted by equities researchers at Wells Fargo & Company from $82.00 to $87.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 16.66% from the stock’s previous close.

Several other equities research analysts have also weighed in on SYY. JPMorgan Chase & Co. lowered their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, UBS Group reduced their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Performance

NYSE SYY opened at $74.57 on Wednesday. The company’s fifty day moving average is $73.78 and its two-hundred day moving average is $75.66. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a market capitalization of $36.48 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 1.88 and a beta of 1.17. Sysco has a 52-week low of $69.03 and a 52-week high of $82.33.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the business posted $0.89 earnings per share. Equities research analysts forecast that Sysco will post 4.58 EPS for the current year.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the sale, the executive vice president now owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,370 shares of company stock valued at $5,965,519 over the last ninety days. Insiders own 0.54% of the company’s stock.

Institutional Trading of Sysco

A number of large investors have recently made changes to their positions in the company. AMF Tjanstepension AB lifted its position in Sysco by 185.5% in the 3rd quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock valued at $2,446,000 after acquiring an additional 20,356 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Sysco by 10.7% in the third quarter. Assenagon Asset Management S.A. now owns 15,997 shares of the company’s stock valued at $1,249,000 after purchasing an additional 1,551 shares in the last quarter. Allworth Financial LP boosted its position in shares of Sysco by 2.7% during the third quarter. Allworth Financial LP now owns 6,832 shares of the company’s stock worth $533,000 after buying an additional 182 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Sysco by 15.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,084 shares of the company’s stock worth $4,278,000 after buying an additional 7,302 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in Sysco by 49.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 5,210 shares of the company’s stock valued at $407,000 after buying an additional 1,721 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

About Sysco

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.