Truist Financial Has Lowered Expectations for Sysco (NYSE:SYY) Stock Price

Sysco (NYSE:SYYGet Free Report) had its price target dropped by equities research analysts at Truist Financial from $85.00 to $83.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 13.18% from the company’s previous close.

Several other brokerages also recently commented on SYY. Morgan Stanley lowered their price objective on Sysco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Barclays lowered their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday. Melius started coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Finally, Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.21.

Check Out Our Latest Report on Sysco

Sysco Stock Up 2.0 %

SYY stock opened at $73.33 on Wednesday. The stock’s 50 day simple moving average is $76.40 and its 200 day simple moving average is $76.00. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market cap of $36.02 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYYGet Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same quarter in the prior year, the company posted $0.89 EPS. On average, research analysts expect that Sysco will post 4.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the transaction, the executive vice president now owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,270 shares of company stock valued at $6,181,946. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Sysco

Several hedge funds have recently made changes to their positions in SYY. State Street Corp boosted its stake in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares during the period. Primecap Management Co. CA boosted its stake in Sysco by 9.7% during the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after buying an additional 422,954 shares during the period. Montrusco Bolton Investments Inc. boosted its stake in Sysco by 8.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after buying an additional 375,409 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Sysco by 4.1% during the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after buying an additional 168,163 shares during the period. 83.41% of the stock is currently owned by hedge funds and other 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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