Wells Fargo & Company Raises Sysco (NYSE:SYY) Price Target to $87.00

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

A number of other equities analysts have also weighed in on SYY. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. UBS Group cut their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Melius started coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Finally, Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Price Performance

SYY stock opened at $74.23 on Wednesday. The stock has a market capitalization of $36.32 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The stock’s fifty day simple moving average is $73.72 and its 200-day simple moving average is $75.65. Sysco has a 52-week low of $69.03 and a 52-week high of $82.33. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate 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 business posted $0.89 earnings per share. Equities research analysts expect that Sysco will post 4.58 EPS for the current year.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares in the company, valued at $4,846,480. The trade was a 26.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction that occurred 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. 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 valued at $5,965,519. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in Sysco in the third quarter worth about $26,000. Parvin Asset Management LLC acquired a new stake in Sysco during the fourth quarter valued at approximately $29,000. Valley Wealth Managers Inc. bought a new position in Sysco during the 3rd quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Sysco in the 4th quarter worth approximately $31,000. Finally, Sherman Asset Management Inc. acquired a new stake in shares of Sysco during the 4th quarter valued at approximately $31,000. 83.41% of the stock is owned by institutional investors and hedge funds.

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.