Sysco (NYSE:SYY) Given New $91.00 Price Target at UBS Group

Key Points

• UBS Group has raised Sysco's price target from $83.00 to $91.00, suggesting a potential upside of 13.24% from the current price, and maintains a "buy" rating on the stock.
• Several other brokerages have also updated their ratings, with Bank of America increasing its target to $93.00 and maintaining a "buy" rating, while Wall Street Zen downgraded to a "hold" rating.
• Insider trading activity includes significant share sales by executives, with over 77,000 shares sold in the past ninety days, reflecting changes in ownership stakes.

Sysco (NYSE:SYY - Get Free Report) had its target price lifted by stock analysts at UBS Group from $83.00 to $91.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price target suggests a potential upside of 13.24% from the company's current price.

A number of other brokerages have also recently issued reports on SYY. Bank of America upped their price objective on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Citigroup assumed coverage on shares of Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target for the company. Wells Fargo & Company cut their price objective on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.85.

Sysco Stock Up 0.1%

Shares of Sysco stock traded up $0.06 on Monday, hitting $80.36. 4,450,648 shares of the company traded hands, compared to its average volume of 3,314,436. The company has a 50-day moving average price of $75.40 and a 200 day moving average price of $73.46. The company has a quick ratio of 0.76, a current ratio of 1.26 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. The company has a market cap of $38.95 billion, a PE ratio of 20.82, a PEG ratio of 2.37 and a beta of 0.81.

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

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the sale, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the sale, the executive vice president owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,962 shares of company stock valued at $6,271,305. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sysco

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners increased its stake in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company's stock valued at $1,139,798,000 after buying an additional 3,015,714 shares during the last quarter. 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 buying an additional 1,928,002 shares during the last quarter. Canoe Financial LP grew its position in shares of Sysco by 29,610.4% in the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after acquiring an additional 1,426,332 shares during the period. Nuveen LLC bought a new position in shares of Sysco in the 1st quarter valued at about $85,341,000. Finally, Burgundy Asset Management Ltd. grew its position in shares of Sysco by 251.6% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock valued at $111,026,000 after acquiring an additional 1,039,088 shares during the period. 83.41% of the stock is currently 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.

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