Sysco (NYSE:SYY) Given New $88.00 Price Target at Barclays

Sysco (NYSE:SYY) had its target price raised by Barclays from $85.00 to $88.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also issued reports on the stock. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a buy rating on the stock in a research note on Thursday, July 18th. BMO Capital Markets cut their price target on shares of Sysco from $90.00 to $85.00 and set an outperform rating on the stock in a research note on Thursday, May 23rd. Guggenheim upgraded shares of Sysco from a neutral rating to a buy rating and set a $85.00 price target on the stock in a research note on Tuesday, May 28th. Piper Sandler cut their price target on shares of Sysco from $83.00 to $79.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Finally, Truist Financial cut their price target on shares of Sysco from $87.00 to $85.00 and set a buy rating on the stock in a research note on Monday, June 24th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sysco currently has an average rating of Moderate Buy and a consensus price target of $85.27.

Sysco Stock Up 1.2 %

Shares of SYY opened at $76.71 on Wednesday. The firm has a market cap of $38.20 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. Sysco has a 12-month low of $62.24 and a 12-month high of $82.89. The company’s 50-day moving average price is $72.47 and its 200 day moving average price is $76.09. The company has a current ratio of 1.20, a quick ratio of 0.77 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. On average, sell-side analysts forecast that Sysco will post 4.59 earnings per share for the current year.

Hedge Funds Weigh In On Sysco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC boosted its holdings in Sysco by 1.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after purchasing an additional 124 shares in the last quarter. Hunter Associates Investment Management LLC boosted its holdings in Sysco by 1.5% in the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after purchasing an additional 125 shares in the last quarter. Bell Investment Advisors Inc boosted its holdings in Sysco by 8.2% in the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after purchasing an additional 131 shares in the last quarter. Beacon Investment Advisors LLC boosted its holdings in shares of Sysco by 0.5% in the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after acquiring an additional 133 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Sysco by 6.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock valued at $165,000 after acquiring an additional 135 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

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.