SYSCO (NYSE:SYY) had its price objective decreased by stock analysts at Pivotal Research from $68.00 to $61.00 in a note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. Pivotal Research’s target price points to a potential upside of 2.28% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on SYY. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 price target on shares of SYSCO in a report on Tuesday. BMO Capital Markets set a $74.00 price target on SYSCO and gave the stock a “buy” rating in a report on Monday. Jefferies Group set a $67.00 price target on SYSCO and gave the stock a “hold” rating in a report on Monday. Loop Capital upped their price target on SYSCO from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Morgan Stanley raised SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target for the company in a report on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. SYSCO has an average rating of “Buy” and an average target price of $63.83.
Shares of SYSCO (NYSE:SYY) traded up $2.16 on Tuesday, hitting $59.64. The stock had a trading volume of 4,520,591 shares, compared to its average volume of 2,300,000. SYSCO has a 1 year low of $48.85 and a 1 year high of $64.27. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77. The stock has a market capitalization of $31,080.00, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 2.39 and a beta of 0.56.
In other SYSCO news, CEO William J. Delaney III sold 150,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $54.05, for a total transaction of $8,107,500.00. Following the completion of the transaction, the chief executive officer now owns 526,725 shares of the company’s stock, valued at $28,469,486.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William W. Goetz sold 11,323 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total value of $702,026.00. Following the transaction, the senior vice president now directly owns 35,825 shares of the company’s stock, valued at approximately $2,221,150. The disclosure for this sale can be found here. Insiders have sold 294,695 shares of company stock valued at $16,866,723 in the last three months. Insiders own 9.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its holdings in shares of SYSCO by 252.7% in the second quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock valued at $97,041,000 after purchasing an additional 1,381,441 shares during the last quarter. Advisor Group Inc. boosted its holdings in SYSCO by 9.8% in the second quarter. Advisor Group Inc. now owns 70,487 shares of the company’s stock valued at $3,520,000 after purchasing an additional 6,291 shares during the period. Marco Investment Management LLC boosted its holdings in SYSCO by 278.4% in the second quarter. Marco Investment Management LLC now owns 19,300 shares of the company’s stock valued at $971,000 after purchasing an additional 14,200 shares during the period. WealthPLAN Partners LLC boosted its holdings in SYSCO by 1,561.8% in the second quarter. WealthPLAN Partners LLC now owns 11,998 shares of the company’s stock valued at $604,000 after purchasing an additional 11,276 shares during the period. Finally, Roundview Capital LLC boosted its holdings in SYSCO by 5.8% in the second quarter. Roundview Capital LLC now owns 12,435 shares of the company’s stock valued at $626,000 after purchasing an additional 685 shares during the period. 80.09% of the stock is owned by institutional investors and hedge funds.
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SYSCO Company Profile
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
