Sysco (NYSE:SYY) PT Set at $88.00 by Wells Fargo & Company

Key Points

• Wells Fargo & Company raised its target price for Sysco (NYSE:SYY) from $80.00 to $88.00, indicating a potential upside of 12.11% from the stock's current price and maintaining an "overweight" rating.
• Sysco's stock recently traded down 2.3% to $78.49, with a consensus price target of $84.46 and a current rating of "Moderate Buy" from analysts.
• Insider trading activity includes significant sales by executives, with 77,962 shares sold over the last ninety days, representing a decrease in insider ownership of 0.54%.

Sysco (NYSE:SYY - Get Free Report) has been assigned a $88.00 price target by equities researchers at Wells Fargo & Company in a report issued on Tuesday, MarketBeat reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 10.03% from the company's current price.

SYY has been the topic of a number of other research reports. Morgan Stanley upped their price target on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. BMO Capital Markets reduced their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Bank of America raised their price target on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $82.00 price target on shares of Sysco in a research note on Tuesday, July 8th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and an average price target of $85.54.

Sysco Stock Performance

NYSE SYY traded down $0.13 during trading hours on Tuesday, hitting $79.98. 564,203 shares of the company's stock traded hands, compared to its average volume of 3,328,186. The business's fifty day moving average price is $75.81 and its two-hundred day moving average price is $73.59. 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 market capitalization of $38.77 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.37 and a beta of 0.81. Sysco has a 52 week low of $67.12 and a 52 week high of $82.23.

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

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of the company's 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 sale, the executive vice president owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 directly owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Sysco

A number of hedge funds have recently made changes to their positions in the stock. Invesco Ltd. boosted its holdings in shares of Sysco by 1.0% in the 1st quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock valued at $1,280,970,000 after purchasing an additional 162,961 shares during the last quarter. Boston Partners lifted its holdings in shares of Sysco by 24.8% during 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. Geode Capital Management LLC lifted its holdings in shares of Sysco by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock valued at $905,120,000 after acquiring an additional 233,885 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Sysco by 27.3% during the 4th 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. Finally, FMR LLC lifted its holdings in shares of Sysco by 0.8% during the 4th quarter. FMR LLC now owns 7,590,141 shares of the company's stock valued at $580,342,000 after acquiring an additional 60,059 shares in the last quarter. Institutional investors and hedge funds 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.