Sysco (NYSE:SYY) Price Target Lowered to $83.00 at Truist Financial

Sysco (NYSE:SYY) had its price objective cut by research analysts at Truist Financial from $85.00 to $83.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 14.73% from the stock’s current price.

SYY has been the topic of a number of other reports. Wells Fargo & Company cut their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Barclays cut their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.43.

Sysco Trading Down 5.9 %

NYSE SYY opened at $72.35 on Wednesday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco has a one year low of $69.03 and a one year high of $82.89. The company has a 50-day simple moving average of $76.43 and a 200-day simple moving average of $76.03. The firm has a market capitalization of $35.54 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same period in the prior year, the company earned $0.89 earnings per share. On average, equities analysts forecast that Sysco will post 4.57 earnings per share for the current year.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the sale, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock worth $6,485,050 in the last three months. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sysco

A number of hedge funds and other institutional investors have recently made changes to their positions in SYY. Wingate Wealth Advisors Inc. acquired a new stake in shares of Sysco in the 4th quarter valued at $105,000. Harbour Trust & Investment Management Co boosted its position in Sysco by 0.5% during the fourth quarter. Harbour Trust & Investment Management Co now owns 62,168 shares of the company’s stock worth $4,753,000 after purchasing an additional 294 shares during the period. MFA Wealth Advisors LLC raised its position in shares of Sysco by 8.5% in the fourth quarter. MFA Wealth Advisors LLC now owns 4,727 shares of the company’s stock valued at $361,000 after purchasing an additional 370 shares during the period. Angeles Wealth Management LLC acquired a new stake in shares of Sysco in the fourth quarter worth $206,000. Finally, Kestra Private Wealth Services LLC grew its stake in Sysco by 242.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 33,695 shares of the company’s stock valued at $2,576,000 after buying an additional 23,850 shares during the last quarter. 83.41% of the stock is 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.