Morgan Stanley Lowers Sysco (NYSE:SYY) Price Target to $79.00

by · The Markets Daily

Sysco (NYSE:SYY – Get Free Report) had its price target reduced by Morgan Stanley from $82.00 to $79.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 8.20% from the stock’s current price.

SYY has been the topic of a number of other research reports. Jefferies Financial Group increased their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 13th. Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.79.

Read Our Latest Analysis on Sysco

Sysco Trading Down 0.3 %

NYSE SYY opened at $73.02 on Tuesday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The firm has a market cap of $35.87 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 2.03 and a beta of 1.18. The firm has a 50 day simple moving average of $76.62 and a 200-day simple moving average of $75.87. Sysco has a one year low of $69.03 and a one year high of $82.89.

Sysco (NYSE:SYY – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the prior year, the business earned $1.07 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts anticipate that Sysco will post 4.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock valued at $6,485,050 over the last quarter. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sysco

Institutional investors have recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. raised its stake in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Sysco during the third quarter worth $26,000. Valley Wealth Managers Inc. purchased a new position in Sysco in the third quarter worth $31,000. Focused Wealth Management Inc acquired a new stake in Sysco in the third quarter valued at $37,000. Finally, Canoe Financial LP purchased a new stake in shares of Sysco during the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

About Sysco

(Get Free Report)

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.

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