Sysco (NYSE:SYY) Price Target Increased to $88.00 by Analysts at JPMorgan Chase & Co.

Sysco (NYSE:SYY) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $85.00 to $88.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 13.18% from the stock’s current price.

A number of other brokerages also recently commented on SYY. Deutsche Bank Aktiengesellschaft cut their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Truist Financial decreased their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, May 28th. Finally, BMO Capital Markets cut their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.55.

Sysco Stock Performance

Shares of NYSE SYY traded up $1.23 during midday trading on Monday, reaching $77.75. 1,462,624 shares of the company traded hands, compared to its average volume of 3,052,061. The company has a market cap of $38.72 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 2.01 and a beta of 1.20. The stock has a 50-day moving average price of $75.34 and a 200 day moving average price of $75.66. Sysco has a 52 week low of $62.24 and a 52 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 0.69.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the prior year, the firm posted $1.34 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Sysco will post 4.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SYY. Accretive Wealth Partners LLC boosted its stake in Sysco by 1.0% during the 4th quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock valued at $1,593,000 after purchasing an additional 212 shares during the period. Gryphon Financial Partners LLC grew its stake in shares of Sysco by 55.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock worth $352,000 after acquiring an additional 1,710 shares during the last quarter. Panagora Asset Management Inc. increased its position in Sysco by 8.6% during the fourth quarter. Panagora Asset Management Inc. now owns 19,344 shares of the company’s stock worth $1,415,000 after acquiring an additional 1,531 shares during the period. Financial Advocates Investment Management raised its stake in Sysco by 7.5% during the 4th quarter. Financial Advocates Investment Management now owns 8,001 shares of the company’s stock valued at $585,000 after purchasing an additional 555 shares during the last quarter. Finally, Level Four Advisory Services LLC boosted its holdings in Sysco by 18.5% in the 4th quarter. Level Four Advisory Services LLC now owns 6,910 shares of the company’s stock valued at $505,000 after purchasing an additional 1,081 shares during the period. 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.