Sysco (NYSE:SYY) Given New $93.00 Price Target at Bank of America

Sysco (NYSE:SYY - Get Free Report) had its price target hoisted by stock analysts at Bank of America from $81.00 to $93.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price target indicates a potential upside of 18.23% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Guggenheim reaffirmed a "buy" rating and set a $82.00 price target on shares of Sysco in a report on Tuesday, July 8th. BMO Capital Markets cut their price target on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price target on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. UBS Group lowered their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and an average target price of $83.23.

Sysco Stock Up 1.0%

Shares of NYSE SYY traded up $0.75 during trading hours on Friday, hitting $78.66. The company had a trading volume of 225,861 shares, compared to its average volume of 3,233,403. The stock has a market capitalization of $38.13 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. 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 1-year low of $67.12 and a 1-year high of $82.23. The firm's 50 day moving average is $74.42 and its 200-day moving average is $73.31.

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

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director owned 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Sysco during the fourth quarter valued at about $450,441,000. Boston Partners increased its stake in shares of 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 acquiring an additional 3,015,714 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after acquiring an additional 1,928,002 shares in the last quarter. Canoe Financial LP increased its holdings in shares of Sysco by 29,610.4% during the first 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 in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Sysco during the first quarter valued at approximately $85,341,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.