Sysco (NYSE:SYY) Given New $83.00 Price Target at Truist Financial

Sysco (NYSE:SYY) had its price target reduced by analysts at Truist Financial from $85.00 to $83.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 14.73% from the stock’s current price.

SYY has been the subject of a number of other reports. Morgan Stanley dropped their price target on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Barclays reduced their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.43.

Sysco Stock Down 5.9 %

NYSE SYY opened at $72.35 on Wednesday. Sysco has a 1-year low of $69.03 and a 1-year high of $82.89. The company has a market capitalization of $35.54 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 2.04 and a beta of 1.18. The stock’s 50 day moving average is $76.43 and its two-hundred day moving average is $76.03. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last posted its earnings results 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 net margin of 2.44% and a return on equity of 101.04%. During the same period last year, the business posted $0.89 EPS. Equities analysts forecast that Sysco will post 4.57 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock worth $6,485,050 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. National Pension Service grew its holdings in Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after purchasing an additional 166,798 shares during the period. New England Asset Management Inc. increased its holdings in shares of Sysco by 12.7% during the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after acquiring an additional 14,810 shares during the last quarter. Empowered Funds LLC raised its stake in Sysco by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after acquiring an additional 17,587 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares during the period. Finally, Captrust Financial Advisors increased its holdings in shares of Sysco by 7.7% in the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after purchasing an additional 8,891 shares during 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.