Sysco (NYSE:SYY) Given New $85.00 Price Target at BMO Capital Markets

Sysco (NYSE:SYY) had its price target lowered by investment analysts at BMO Capital Markets from $90.00 to $85.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 16.04% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Barclays lifted their target price on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. reduced their price target on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. UBS Group reduced their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Stephens raised their price target on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.44.

Sysco Trading Up 0.7 %

SYY stock traded up $0.52 during trading on Thursday, hitting $73.25. The company had a trading volume of 373,706 shares, compared to its average volume of 2,934,726. The stock has a market cap of $36.48 billion, a PE ratio of 17.81, a PEG ratio of 2.00 and a beta of 1.16. The business has a 50-day moving average of $77.39 and a 200-day moving average of $76.13. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. Sysco has a one year low of $62.24 and a one year high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. Sysco’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share. Research analysts predict that Sysco will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sysco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC boosted its stake in Sysco by 1.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after purchasing an additional 124 shares during the period. Hunter Associates Investment Management LLC grew its stake in Sysco by 1.5% during the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after acquiring an additional 125 shares in the last quarter. Bell Investment Advisors Inc increased its holdings in Sysco by 8.2% during the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after acquiring an additional 131 shares during the period. Beacon Investment Advisors LLC lifted its stake in Sysco by 0.5% in the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock worth $1,805,000 after purchasing an additional 133 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased 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 worth $165,000 after purchasing an additional 135 shares during the period. 83.41% of the stock is currently owned by institutional investors.

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.