Barclays Boosts Sysco (NYSE:SYY) Price Target to $87.00

Sysco (NYSE:SYY - Get Free Report) had its price target raised by research analysts at Barclays from $85.00 to $87.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price objective would indicate a potential upside of 22.78% from the stock's previous close.

SYY has been the topic of several other reports. Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Guggenheim reiterated a "buy" rating and set a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. UBS Group dropped their price target on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley reduced their price objective on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.07.

Sysco Stock Down 2.3 %

NYSE:SYY traded down $1.68 during trading hours on Tuesday, hitting $70.86. The company's stock had a trading volume of 3,719,482 shares, compared to its average volume of 3,362,262. Sysco has a 52-week low of $67.12 and a 52-week high of $82.23. The stock has a market capitalization of $34.67 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock has a fifty day moving average of $72.80 and a 200-day moving average of $74.43.

Sysco (NYSE:SYY - Get Free Report) 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 return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, equities analysts forecast that Sysco will post 4.58 earnings per share for the current year.

Hedge Funds Weigh In On Sysco

A number of institutional investors and hedge funds have recently made changes to their positions in SYY. Vanguard Group Inc. boosted its holdings in Sysco by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock worth $4,703,775,000 after buying an additional 429,711 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Sysco by 5.3% during the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company's stock worth $1,292,751,000 after acquiring an additional 851,441 shares in the last quarter. Boston Partners boosted its stake in shares of Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after acquiring an additional 7,184,754 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Sysco by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock worth $905,120,000 after acquiring an additional 233,885 shares during the period. Finally, Capital Research Global Investors increased its stake in Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after purchasing an additional 1,928,002 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

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.