Sysco (NYSE:SYY) Price Target Raised to $82.00 at Barclays

Key Points

• Barclays has raised its price target for Sysco stock from $77.00 to $82.00, indicating a potential upside of 1.98%. The firm maintains an "overweight" rating on the stock.
• Other analysts, including Truist Financial and JPMorgan Chase, have also increased their target prices, with a consensus target price of $85.38.
• Sysco recently reported an earnings per share (EPS) of $1.48 for the quarter, surpassing expectations, while also showing a 2.8% year-over-year revenue growth.

Sysco (NYSE:SYY - Free Report) had its price target raised by Barclays from $77.00 to $82.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

SYY has been the topic of several other research reports. Wells Fargo & Company set a $88.00 target price on Sysco and gave the stock an "overweight" rating in a research note on Tuesday. Morgan Stanley raised their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Citigroup started coverage on Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. Finally, Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.54.

Sysco Stock Down 0.4%

NYSE SYY traded down $0.29 during trading on Wednesday, hitting $79.31. The company's stock had a trading volume of 539,682 shares, compared to its average volume of 3,326,816. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.76. Sysco has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a market cap of $38.44 billion, a PE ratio of 21.31, a P/E/G ratio of 2.46 and a beta of 0.81. The business's 50 day simple moving average is $75.96 and its 200-day simple moving average is $73.63.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%. The business had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The business's revenue was up 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Sysco will post 4.58 EPS for the current fiscal year.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the sale, the executive vice president directly owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This represents a 55.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Institutional Trading of Sysco

Several institutional investors and hedge funds have recently bought and sold shares of SYY. Envestnet Asset Management Inc. increased its holdings in shares of Sysco by 8.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,517,244 shares of the company's stock worth $114,916,000 after buying an additional 118,379 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in shares of Sysco by 22.2% in the 2nd quarter. Wealthfront Advisers LLC now owns 81,747 shares of the company's stock worth $6,192,000 after buying an additional 14,834 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Sysco by 4.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 100,620 shares of the company's stock worth $7,621,000 after buying an additional 4,375 shares during the last quarter. Prudent Man Advisors LLC increased its holdings in shares of Sysco by 30.3% in the 2nd quarter. Prudent Man Advisors LLC now owns 8,485 shares of the company's stock worth $643,000 after buying an additional 1,974 shares during the last quarter. Finally, Cabot Wealth Management Inc. grew its holdings in shares of Sysco by 3.0% during the 2nd quarter. Cabot Wealth Management Inc. now owns 153,870 shares of the company's stock valued at $11,654,000 after purchasing an additional 4,436 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

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.