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

Sysco (NYSE:SYY) had its target price boosted by research analysts at Morgan Stanley from $72.00 to $77.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 0.82% from the company’s previous close.

Several other analysts have also recently weighed in on SYY. Wells Fargo & Company lowered their price target on Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. raised their target price on shares of Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research report on Sunday. Citigroup assumed coverage on shares of Sysco in a report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price target on the stock. Finally, BMO Capital Markets lowered their price objective on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.77.

Sysco Price Performance

SYY stock opened at $76.37 on Monday. The firm has a 50 day moving average of $74.16 and a 200-day moving average of $73.27. The firm has a market capitalization of $37.02 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81. Sysco has a 12 month low of $67.12 and a 12 month high of $82.23. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The firm had revenue of $19.60 billion during the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.96 earnings per share. As a group, sell-side analysts predict that Sysco will post 4.58 earnings per share for the current fiscal year.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 356 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director directly owned 12,738 shares in the company, valued at $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Sysco

Several hedge funds and other institutional investors have recently bought and sold shares of SYY. NorthCrest Asset Manangement LLC raised its holdings in Sysco by 4.9% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company’s stock valued at $226,000 after buying an additional 139 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the period. Trust Co of the South raised its stake in shares of Sysco by 3.0% during the second quarter. Trust Co of the South now owns 4,849 shares of the company’s stock valued at $367,000 after acquiring an additional 142 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Sysco by 1.6% during the first quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company’s stock worth $627,000 after purchasing an additional 143 shares during the period. Finally, MV Capital Management Inc. grew its stake in shares of Sysco by 0.4% in the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock worth $2,625,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

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.