SYSCO (NYSE:SYY) had its target price upped by stock analysts at Bank of America from $68.00 to $70.00 in a research note issued on Tuesday. The firm presently has a “buy” rating on the stock. Bank of America’s price objective would suggest a potential upside of 17.37% from the stock’s current price.
Several other equities research analysts have also recently commented on the company. Pivotal Research reaffirmed a “hold” rating and set a $53.00 price objective on shares of SYSCO in a research report on Sunday, November 5th. Loop Capital increased their price objective on SYSCO to $68.00 and gave the company a “buy” rating in a research report on Monday, December 11th. BMO Capital Markets set a $66.00 price objective on SYSCO and gave the company a “buy” rating in a research report on Friday, December 8th. Zacks Investment Research cut SYSCO from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Morgan Stanley raised SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock in a research report on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $63.83.
SYSCO (NYSE:SYY) traded up $2.16 during midday trading on Tuesday, hitting $59.64. The stock had a trading volume of 4,520,591 shares, compared to its average volume of 2,634,104. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40. SYSCO has a 52-week low of $48.85 and a 52-week high of $64.27. The stock has a market capitalization of $30,700.00, a PE ratio of 26.74, a P/E/G ratio of 2.39 and a beta of 0.56.
In other SYSCO news, SVP Greg D. Bertrand sold 81,038 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the transaction, the senior vice president now owns 69,721 shares of the company’s stock, valued at $4,236,247.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP William W. Goetz sold 11,323 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total value of $702,026.00. Following the completion of the transaction, the senior vice president now directly owns 35,825 shares in the company, valued at approximately $2,221,150. The disclosure for this sale can be found here. In the last three months, insiders sold 294,695 shares of company stock worth $16,866,723. 9.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Keel Point LLC raised its stake in shares of SYSCO by 0.8% in the second quarter. Keel Point LLC now owns 5,782 shares of the company’s stock worth $291,000 after buying an additional 47 shares during the period. Laurel Wealth Advisors Inc. raised its stake in shares of SYSCO by 1.1% in the second quarter. Laurel Wealth Advisors Inc. now owns 10,334 shares of the company’s stock worth $520,000 after buying an additional 116 shares during the period. Sandhill Capital Partners LLC raised its stake in shares of SYSCO by 3.2% in the second quarter. Sandhill Capital Partners LLC now owns 10,834 shares of the company’s stock worth $545,000 after buying an additional 332 shares during the period. National Asset Management Inc. raised its stake in shares of SYSCO by 2.6% in the second quarter. National Asset Management Inc. now owns 13,781 shares of the company’s stock worth $695,000 after buying an additional 345 shares during the period. Finally, Simmons Bank raised its stake in shares of SYSCO by 1.5% in the second quarter. Simmons Bank now owns 26,343 shares of the company’s stock worth $1,326,000 after buying an additional 377 shares during the period. 80.09% of the stock is currently owned by institutional investors.
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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.
