Sysco (NYSE:SYY) PT Raised to $92.00

Sysco (NYSE:SYY) had its price objective lifted by analysts at Jefferies Financial Group from $91.00 to $92.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target suggests a potential upside of 19.89% from the stock’s previous close.

SYY has been the subject of a number of other research reports. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 28th. Barclays upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Truist Financial cut their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.08.

Sysco Stock Performance

NYSE:SYY traded up $0.33 during trading hours on Wednesday, reaching $76.74. 301,741 shares of the company’s stock were exchanged, compared to its average volume of 3,148,513. The firm has a market capitalization of $37.72 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.98 and a beta of 1.20. The company has a 50-day moving average of $76.03 and a 200 day moving average of $75.47. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco has a 1-year low of $62.24 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 EPS. Research analysts anticipate that Sysco will post 4.6 EPS for the current year.

Hedge Funds Weigh In On Sysco

Hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC increased its holdings in Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after acquiring an additional 6,855 shares in the last quarter. Bridgefront Capital LLC acquired a new stake in shares of Sysco during the 4th quarter worth about $841,000. Nebula Research & Development LLC acquired a new stake in shares of Sysco during the 4th quarter worth about $916,000. Artisan Partners Limited Partnership boosted its stake in shares of Sysco by 11.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock worth $43,674,000 after purchasing an additional 62,556 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its stake in shares of Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

About Sysco

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.