Morgan Stanley Raises Sysco (NYSE:SYY) Price Target to $77.00

Sysco (NYSE:SYY - Get Free Report) had its target price boosted by research analysts at Morgan Stanley from $72.00 to $77.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential downside of 0.54% from the stock's current price.

Several other equities research analysts also recently issued reports on SYY. BMO Capital Markets lowered their price target on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research report on Sunday. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Finally, Barclays lowered their price objective on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.77.

Sysco Stock Up 0.8%

Sysco stock traded up $0.58 during midday trading on Monday, hitting $77.42. The stock had a trading volume of 108,815 shares, compared to its average volume of 3,230,760. The stock has a market cap of $37.53 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.32 and a beta of 0.81. The business has a fifty day moving average price of $73.90 and a 200 day moving average price of $73.24. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. Sysco has a 12 month low of $67.12 and a 12 month high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The firm had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same quarter last year, the business posted $0.96 earnings per share. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts predict that Sysco will post 4.58 EPS for the current year.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 356 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director directly owned 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sysco

Institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sysco by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock valued at $16,772,000 after acquiring an additional 4,932 shares during the last quarter. Fiduciary Trust Co increased its position in Sysco by 0.3% in the fourth quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock worth $5,084,000 after purchasing an additional 196 shares during the last quarter. UniSuper Management Pty Ltd grew its position in Sysco by 23.2% in the fourth quarter. UniSuper Management Pty Ltd now owns 42,904 shares of the company's stock worth $3,280,000 after acquiring an additional 8,076 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Sysco in the 4th quarter worth about $576,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of Sysco during the first quarter worth $202,000. 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.

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