Wells Fargo & Company Forecasts Strong Price Appreciation for Sysco (NYSE:SYY) Stock

Sysco (NYSE:SYY) had its target price boosted by research analysts at Wells Fargo & Company from $82.00 to $87.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 16.66% from the company’s previous close.

A number of other analysts have also issued reports on SYY. Guggenheim reiterated a “buy” rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Melius assumed coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. UBS Group reduced their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Trading Up 1.3 %

Shares of SYY opened at $74.57 on Wednesday. Sysco has a 52-week low of $69.03 and a 52-week high of $82.33. The stock has a market cap of $36.48 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm’s fifty day moving average is $73.78 and its two-hundred day moving average is $75.66.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the business earned $0.89 earnings per share. Research analysts forecast that Sysco will post 4.58 earnings per share for the current fiscal year.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of the business’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 sale, the executive vice president now owns 60,581 shares in the company, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,370 shares of company stock worth $5,965,519 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sysco

A number of institutional investors and hedge funds have recently bought and sold shares of SYY. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco during the third quarter worth $26,000. Parvin Asset Management LLC acquired a new stake in shares of Sysco during the 4th quarter valued at approximately $29,000. Stonebridge Financial Group LLC bought a new position in Sysco in the fourth quarter worth about $31,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco during the third quarter valued at $31,000. Finally, Flagship Wealth Advisors LLC acquired a new stake in Sysco in the 4th quarter valued at approximately $31,000. 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.