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

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

Several other research firms have also recently weighed in on SYY. Guggenheim upgraded Sysco from a neutral rating to a buy rating and set a $85.00 price objective on the stock in a report on Tuesday, May 28th. Bank of America cut their target price on Sysco from $91.00 to $87.00 and set a buy rating on the stock in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut their target price on Sysco from $87.00 to $85.00 and set an overweight rating on the stock in a research note on Thursday, May 23rd. Morgan Stanley cut their target price on Sysco from $82.00 to $81.00 and set an equal weight rating on the stock in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Sysco from $90.00 to $86.00 and set a buy rating on the stock in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco presently has a consensus rating of Moderate Buy and a consensus price target of $85.27.

Sysco Trading Up 1.2 %

NYSE:SYY opened at $76.71 on Wednesday. Sysco has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.77. The stock has a market capitalization of $38.20 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.06 and a beta of 1.18. The business’s 50-day simple moving average is $72.47 and its 200-day simple moving average is $76.08.

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

Institutional Investors Weigh In On Sysco

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors acquired a new position in shares of Sysco during the 4th quarter worth approximately $683,599,000. Norges Bank acquired a new position in shares of Sysco during the 4th quarter worth approximately $450,794,000. Capital Research Global Investors increased its holdings in shares of Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares during the last quarter. Swedbank AB acquired a new position in shares of Sysco during the 1st quarter worth approximately $178,824,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Sysco by 132.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after acquiring an additional 2,084,501 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.