Sysco (NYSE:SYY) Given New $77.00 Price Target at Morgan Stanley

Sysco (NYSE:SYYGet Free Report) had its price target dropped by equities researchers at Morgan Stanley from $79.00 to $77.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 5.00% from the stock’s current price.

A number of other research firms also recently weighed in on SYY. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Barclays decreased their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wells Fargo & Company decreased their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Truist Financial decreased their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $85.21.

Get Our Latest Stock Report on SYY

Sysco Trading Up 2.0 %

Shares of Sysco stock opened at $73.33 on Wednesday. The company’s fifty day simple moving average is $76.40 and its 200-day simple moving average is $76.00. The company has a market cap of $36.02 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.04 and a beta of 1.18. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco has a 1 year low of $69.03 and a 1 year high of $82.89.

Sysco (NYSE:SYYGet Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same period in the prior year, the business earned $0.89 EPS. As a group, sell-side analysts expect that Sysco will post 4.57 EPS for the current year.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % 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 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock valued at $6,181,946 over the last ninety days. 0.54% of the stock is owned by insiders.

Institutional Trading of Sysco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Pension Service increased its stake in shares of Sysco by 15.6% in the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after acquiring an additional 166,798 shares during the last quarter. New England Asset Management Inc. increased its stake in shares of Sysco by 12.7% in the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after acquiring an additional 14,810 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Sysco by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after acquiring an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after acquiring an additional 672,940 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after acquiring an additional 8,891 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

About Sysco

(Get Free Report)

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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