Sysco (NYSE:SYY) PT Raised to $94.00 at Morgan Stanley

Sysco (NYSE:SYY – Get Rating) had its price objective raised by stock analysts at Morgan Stanley from $86.00 to $94.00 in a research note issued to investors on Wednesday, The Fly reports. Morgan Stanley’s price target would indicate a potential upside of 9.24% from the company’s current price.

Several other brokerages have also issued reports on SYY. StockNews.com initiated coverage on Sysco in a research report on Thursday, March 31st. They set a “buy” rating for the company. Argus raised Sysco from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Tuesday, February 22nd. Truist Financial initiated coverage on shares of Sysco in a research report on Tuesday, February 1st. They set a “buy” rating and a $89.00 target price for the company. Barclays boosted their price target 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. Finally, CL King assumed coverage on shares of Sysco in a research note on Friday, March 11th. They set a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of “Buy” and a consensus target price of $92.89.

Shares of SYY stock opened at $86.05 on Wednesday. The business’s 50-day moving average price is $83.45 and its 200-day moving average price is $79.93. Sysco has a 12 month low of $68.05 and a 12 month high of $91.53. 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 firm has a market capitalization of $44.11 billion, a price-to-earnings ratio of 56.61, a PEG ratio of 2.47 and a beta of 1.14.

Sysco (NYSE:SYY – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.55 by $0.16. Sysco had a net margin of 1.29% and a return on equity of 82.36%. The business had revenue of $16.90 billion for the quarter, compared to the consensus estimate of $15.99 billion. During the same period last year, the company earned $0.22 EPS. The firm’s revenue was up 42.9% compared to the same quarter last year. On average, sell-side analysts predict that Sysco will post 3.04 earnings per share for the current fiscal year.

In other news, CAO Anita A. Zielinski sold 7,221 shares of Sysco stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $85.00, for a total transaction of $613,785.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sheila Talton sold 2,265 shares of the company’s stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $82.14, for a total transaction of $186,047.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 223,692 shares of company stock valued at $19,406,794. Insiders own 0.31% of the company’s stock.

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new position in shares of Sysco during the fourth quarter valued at about $25,000. DeDora Capital Inc. purchased a new stake in Sysco in the 1st quarter valued at about $31,000. Allegheny Financial Group LTD bought a new position in shares of Sysco during the 4th quarter worth approximately $31,000. KRS Capital Management LLC purchased a new position in shares of Sysco in the 4th quarter worth approximately $31,000. Finally, Column Capital Advisors LLC grew its holdings in shares of Sysco by 4,900.0% in the first quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock valued at $33,000 after acquiring an additional 392 shares in the last quarter. 80.64% of the stock is owned by hedge funds and other institutional investors.

Sysco Company Profile (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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