Sysco (NYSE:SYY) Price Target Cut to $85.00 by Analysts at Barclays

Sysco (NYSE:SYY) had its target price lowered by analysts at Barclays from $93.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 15.91% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on SYY. Jefferies Financial Group upped their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Morgan Stanley decreased their target price on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.21.

Sysco Trading Up 2.0 %

Shares of NYSE SYY opened at $73.33 on Wednesday. The stock has a market cap of $36.02 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.04 and a beta of 1.18. The business has a 50 day simple moving average of $76.40 and a 200 day simple moving average of $76.00. Sysco has a 52 week low of $69.03 and a 52 week high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same quarter in the previous year, the company earned $0.89 earnings per share. On average, research analysts predict that Sysco will post 4.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 21,844 shares of the stock in a transaction 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 owns 60,581 shares in the company, valued at approximately $4,846,480. This represents a 26.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the 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 $3,876,080. The trade was a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,270 shares of company stock worth $6,181,946 over the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Sysco

Large investors have recently made changes to their positions in the business. National Pension Service grew its holdings in shares of Sysco by 15.6% during the third 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 last quarter. New England Asset Management Inc. boosted its holdings in Sysco by 12.7% in the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after acquiring an additional 14,810 shares during the last quarter. Empowered Funds LLC boosted its holdings in Sysco by 29.0% in the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after acquiring an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Sysco by 11.2% in 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 during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Sysco by 7.7% in the third 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.