Truist Financial Cuts Sysco (NYSE:SYY) Price Target to $85.00

Sysco (NYSE:SYY) had its price objective decreased by investment analysts at Truist Financial from $87.00 to $85.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 15.13% from the company’s previous close.

Several other brokerages have also commented on SYY. UBS Group decreased their price target on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, May 28th. Barclays dropped their target price on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Morgan Stanley reduced their price target on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.90.

Sysco Price Performance

Shares of SYY stock traded up $0.48 during mid-day trading on Monday, reaching $73.83. The company’s stock had a trading volume of 99,658 shares, compared to its average volume of 3,043,098. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. The firm’s 50-day moving average is $74.22 and its two-hundred day moving average is $76.45. Sysco has a 1-year low of $62.24 and a 1-year high of $82.89. The company has a market cap of $36.77 billion, a P/E ratio of 18.01, a PEG ratio of 2.09 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. The firm had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 earnings per share. On average, research analysts predict that Sysco will post 4.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its holdings in Sysco by 1.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after purchasing an additional 124 shares during the last quarter. Hunter Associates Investment Management LLC lifted its holdings in Sysco by 1.5% in the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after buying an additional 125 shares during the period. Bell Investment Advisors Inc boosted its stake in Sysco by 8.2% in the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after acquiring an additional 131 shares during the last quarter. Beacon Investment Advisors LLC grew its holdings in Sysco by 0.5% during the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock worth $1,805,000 after acquiring an additional 133 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Sysco by 6.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock valued at $165,000 after acquiring an additional 135 shares during the last quarter. 83.41% of the stock is currently 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.