Sysco (NYSE:SYY) PT Lowered to $82.00 at Morgan Stanley

Sysco (NYSE:SYY) had its price target dropped by equities research analysts at Morgan Stanley from $84.00 to $82.00 in a report released on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 12.75% from the company’s current price.

SYY has been the subject of a number of other reports. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. boosted their target price on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Barclays boosted their target price on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Piper Sandler reduced their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, BMO Capital Markets upped their price objective on Sysco from $85.00 to $90.00 and gave the stock an “outperform” 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’s stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $85.22.

Sysco Trading Down 3.4 %

NYSE SYY opened at $72.73 on Thursday. The stock has a 50-day simple moving average of $77.39 and a 200 day simple moving average of $76.13. The company has a market capitalization of $36.22 billion, a PE ratio of 17.74, a P/E/G ratio of 2.00 and a beta of 1.16. 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 12 month low of $62.24 and a 12 month high of $82.89.

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

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Sysco

Large investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC boosted its holdings in shares of Sysco by 1.8% in the 4th 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 shares of Sysco by 1.5% during the 4th 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 boosted its holdings in shares of Sysco by 8.2% during the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after acquiring an additional 131 shares in the last quarter. Beacon Investment Advisors LLC boosted its holdings in shares of Sysco by 0.5% during the 4th 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 in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Sysco by 6.4% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

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.