Sysco (NYSE:SYY) Stock Price Expected to Rise, Guggenheim Analyst Says

Key Points

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Sysco (NYSE:SYY - Get Free Report) had its price objective hoisted by equities research analysts at Guggenheim from $82.00 to $85.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price objective points to a potential upside of 6.03% from the stock's current price.

A number of other analysts have also recently commented on SYY. UBS Group lifted their price objective on Sysco from $83.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. Barclays raised their price target on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, Bank of America raised their target price on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday, July 18th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.62.

Sysco Stock Performance

SYY stock traded up $0.06 on Thursday, hitting $80.17. The company's stock had a trading volume of 251,309 shares, compared to its average volume of 3,326,176. Sysco has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a current ratio of 1.21, a quick ratio of 0.76 and a debt-to-equity ratio of 6.75. The firm has a 50 day moving average of $75.81 and a two-hundred day moving average of $73.59. The stock has a market cap of $38.86 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 2.37 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. The firm had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%. Sysco's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.39 earnings per share. Equities analysts predict that Sysco will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the sale, the executive vice president owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at $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 Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Boyd Watterson Asset Management LLC OH increased its position in Sysco by 106.4% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock valued at $236,000 after buying an additional 1,622 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Sysco by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock worth $16,772,000 after purchasing an additional 4,932 shares in the last quarter. Fiduciary Trust Co increased its holdings in Sysco by 0.3% during the 4th quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock worth $5,084,000 after purchasing an additional 196 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in Sysco during the 1st quarter worth approximately $202,000. Finally, Golden State Wealth Management LLC increased its holdings in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after purchasing an additional 140 shares in the last quarter. 83.41% of the stock is owned by 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.

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