Sysco (NYSE:SYY) Stock Price Expected to Rise, Barclays Analyst Says

Sysco (NYSE:SYY) had its price target hoisted by research analysts at Barclays from $85.00 to $87.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 19.39% from the stock’s current price.

SYY has been the subject of several other research reports. Morgan Stanley lowered their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Truist Financial decreased their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Guggenheim restated a “buy” rating and set a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.92.

Sysco Stock Performance

Shares of NYSE:SYY opened at $72.87 on Tuesday. Sysco has a twelve month low of $67.12 and a twelve month high of $82.23. The business has a fifty day moving average of $72.75 and a 200-day moving average of $74.48. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The firm has a market cap of $35.65 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the company earned $0.89 earnings per share. On average, equities research analysts predict that Sysco will post 4.58 EPS for the current fiscal year.

Institutional Trading of Sysco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Buckley Wealth Management LLC lifted its position in Sysco by 0.8% during the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock worth $1,391,000 after buying an additional 150 shares in the last quarter. WR Wealth Planners LLC increased its position in shares of Sysco by 9.9% during the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after purchasing an additional 386 shares during the last quarter. Clark & Stuart Inc acquired a new stake in shares of Sysco in the 4th quarter valued at approximately $7,613,000. Boston Trust Walden Corp increased its holdings in Sysco by 179.5% during the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company’s stock worth $61,500,000 after buying an additional 516,585 shares during the last quarter. Finally, Lmcg Investments LLC bought a new position in shares of Sysco in the 4th quarter valued at about $3,668,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

About Sysco

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.