Sysco (NYSE:SYY) Price Target Increased to $84.00 by Analysts at Deutsche Bank Aktiengesellschaft

Sysco (NYSE:SYYGet Rating) had its price objective upped by investment analysts at Deutsche Bank Aktiengesellschaft from $82.00 to $84.00 in a research note issued on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential downside of 2.38% from the company’s previous close.

SYY has been the topic of several other reports. Truist Financial started coverage on Sysco in a research note on Tuesday, February 1st. They set a “buy” rating and a $89.00 price objective on the stock. Credit Suisse Group raised their target price on shares of Sysco from $97.00 to $107.00 in a report on Wednesday. Barclays increased their price objective on shares of Sysco from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, April 25th. Piper Sandler boosted their target price on Sysco from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 8th. Finally, StockNews.com initiated coverage on Sysco in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $92.89.

NYSE:SYY opened at $86.05 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.78 and a debt-to-equity ratio of 8.68. The company has a market capitalization of $44.11 billion, a P/E ratio of 56.61, a P/E/G ratio of 2.47 and a beta of 1.14. Sysco has a 12 month low of $68.05 and a 12 month high of $91.53. The business’s 50-day moving average is $83.45 and its 200 day moving average is $79.93.

Sysco (NYSE:SYYGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.16. Sysco had a net margin of 1.29% and a return on equity of 82.36%. The company had revenue of $16.90 billion for the quarter, compared to the consensus estimate of $15.99 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. Sysco’s revenue was up 42.9% on a year-over-year basis. On average, research analysts forecast that Sysco will post 3.04 earnings per share for the current year.

In other news, EVP Greg D. Bertrand sold 500 shares of the firm’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $80.74, for a total value of $40,370.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Anita A. Zielinski sold 7,221 shares of the firm’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $85.00, for a total transaction of $613,785.00. The disclosure for this sale can be found here. Insiders sold a total of 223,692 shares of company stock valued at $19,406,794 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Sysco during the 4th quarter valued at about $356,291,000. BlackRock Inc. raised its holdings in shares of Sysco by 5.6% in the fourth quarter. BlackRock Inc. now owns 31,519,868 shares of the company’s stock worth $2,475,887,000 after buying an additional 1,677,431 shares during the last quarter. Parnassus Investments LLC acquired a new stake in shares of Sysco during the third quarter worth $126,958,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Sysco by 1,494.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,195,433 shares of the company’s stock valued at $99,233,000 after buying an additional 1,120,437 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Sysco by 22.6% in the 3rd quarter. American Century Companies Inc. now owns 6,060,039 shares of the company’s stock valued at $475,713,000 after acquiring an additional 1,116,289 shares during the period. 80.64% of the stock is owned by hedge funds and other institutional investors.

About Sysco (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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