Jefferies Financial Group Increases Sysco (NYSE:SYY) Price Target to $95.00

Sysco (NYSE:SYY) had its price objective increased by research analysts at Jefferies Financial Group from $91.00 to $95.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 21.75% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Sysco Trading Down 1.5 %

NYSE SYY opened at $78.03 on Monday. Sysco has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The company has a market capitalization of $38.33 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 2.10 and a beta of 1.19. The company’s fifty day moving average price is $76.55 and its two-hundred day moving average price is $75.30.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter last year, the company earned $1.07 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. As a group, research analysts predict that Sysco will post 4.57 earnings per share for the current fiscal year.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,279 shares of company stock worth $2,786,971 in the last ninety days. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Sysco

Several large investors have recently bought and sold shares of the stock. Armstrong Advisory Group Inc. grew its stake in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Sysco in the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the 3rd quarter worth approximately $31,000. Focused Wealth Management Inc acquired a new position in shares of Sysco in the 3rd quarter worth approximately $37,000. Finally, Canoe Financial LP acquired a new position in shares of Sysco in the 3rd quarter worth approximately $38,000. 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.