Sysco Corporation (NYSE:SYY) Receives $83.23 Consensus PT from Brokerages

Shares of Sysco Corporation (NYSE:SYY) have been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $85.38.

A number of brokerages have commented on SYY. Bank of America upped their price objective on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Guggenheim reiterated a “buy” rating and issued a $82.00 price objective on shares of Sysco in a research report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on Sysco from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup initiated coverage on shares of Sysco in a research note on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 target price for the company. Finally, Barclays lifted their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 37,606 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares of the company’s stock, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Sysco

Several large investors have recently modified their holdings of the business. Rialto Wealth Management LLC lifted its stake in Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after purchasing an additional 217 shares during the last quarter. Parvin Asset Management LLC purchased a new stake in Sysco during the 4th quarter valued at $29,000. Chung Wu Investment Group LLC bought a new stake in shares of Sysco in the second quarter worth about $30,000. Golden State Wealth Management LLC increased its stake in shares of Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after buying an additional 140 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new position in Sysco in the 1st quarter worth $33,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY stock opened at $80.10 on Thursday. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.76. The company has a market capitalization of $38.83 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 2.37 and a beta of 0.81. The firm’s 50-day moving average is $75.81 and its two-hundred day moving average is $73.59. Sysco has a 12 month low of $67.12 and a 12 month high of $82.23.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. The firm had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 EPS. Analysts predict that Sysco will post 4.58 earnings per share for the current year.

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.