Sysco (NYSE:SYY) Price Target Lowered to $82.00 at JPMorgan Chase & Co.

Sysco (NYSE:SYY) had its target price cut by JPMorgan Chase & Co. from $86.00 to $82.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 15.59% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Melius assumed coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Truist Financial reduced their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Sysco Trading Down 1.9 %

NYSE:SYY traded down $1.37 on Tuesday, hitting $70.94. 1,152,455 shares of the stock were exchanged, compared to its average volume of 3,458,944. The stock has a market capitalization of $34.70 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 1.93 and a beta of 1.18. Sysco has a 52 week low of $69.03 and a 52 week high of $82.33. 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 company’s 50-day moving average price is $76.30 and its 200 day moving average price is $76.02.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the company posted $0.89 earnings per share. On average, equities research analysts forecast that Sysco will post 4.58 earnings per share for the current year.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,270 shares of company stock worth $6,181,946. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Sysco

Several large investors have recently modified their holdings of the stock. Partners Wealth Management LLC acquired a new stake in Sysco in the fourth quarter valued at about $215,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Sysco by 41.2% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 93,935 shares of the company’s stock valued at $7,182,000 after purchasing an additional 27,400 shares during the last quarter. Cabot Wealth Management Inc. raised its position in Sysco by 3.8% in the fourth quarter. Cabot Wealth Management Inc. now owns 148,499 shares of the company’s stock valued at $11,354,000 after purchasing an additional 5,415 shares during the last quarter. Howard Capital Management Inc. raised its position in Sysco by 5.0% in the fourth quarter. Howard Capital Management Inc. now owns 3,370 shares of the company’s stock valued at $258,000 after purchasing an additional 162 shares during the last quarter. Finally, Marshall Investment Management LLC bought a new position in Sysco in the fourth quarter valued at about $87,000. 83.41% of the stock is 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.