Sysco (NYSE:SYY) Price Target Lowered to $82.00 at Wells Fargo & Company

Sysco (NYSE:SYY) had its target price decreased by stock analysts at Wells Fargo & Company from $87.00 to $82.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 9.88% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Barclays boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted 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 Monday, September 16th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Stock Up 0.6 %

Shares of NYSE SYY traded up $0.46 during mid-day trading on Wednesday, reaching $74.63. 2,729,473 shares of the company’s stock traded hands, compared to its average volume of 3,160,573. The stock has a market cap of $36.66 billion, a P/E ratio of 19.19, a PEG ratio of 1.93 and a beta of 1.20. The business has a 50-day simple moving average of $76.34 and a 200 day simple moving average of $74.75. Sysco has a 1-year low of $64.28 and a 1-year high of $82.89. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same quarter in the prior year, the business earned $1.07 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts expect that Sysco will post 4.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Sysco

Several large investors have recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in Sysco by 17.5% during the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after purchasing an additional 1,637,232 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares in the last quarter. Capital Research Global Investors lifted its holdings in Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after purchasing an additional 1,997,895 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares in the last quarter. Hedge funds and other 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.