Wells Fargo & Company Issues Positive Forecast for Sysco (NYSE:SYY) Stock Price

Sysco (NYSE:SYY) had its target price lifted by Wells Fargo & Company from $82.00 to $87.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on SYY. Melius began coverage on Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Guggenheim restated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Barclays cut their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Morgan Stanley lowered their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Price Performance

Shares of NYSE:SYY opened at $75.53 on Wednesday. Sysco has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The company’s 50-day moving average is $73.66 and its 200 day moving average is $75.65. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a market capitalization of $36.95 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the business earned $0.89 EPS. On average, equities research analysts forecast that Sysco will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is 52.44%.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock worth $5,965,519 in the last ninety days. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sysco

Several hedge funds have recently added to or reduced their stakes in SYY. Ashton Thomas Securities LLC purchased a new position in shares of Sysco during the 3rd quarter valued at about $26,000. Parvin Asset Management LLC bought a new position in Sysco during the fourth quarter valued at approximately $29,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco during the third quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Sysco during the fourth quarter worth approximately $31,000. Finally, Sherman Asset Management Inc. bought a new stake in shares of Sysco in the 4th quarter worth approximately $31,000. Institutional investors 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.