Sysco (NYSE:SYY – Free Report) had its price objective boosted by Barclays from $85.00 to $88.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.
Other equities analysts have also issued research reports about the stock. Guggenheim upgraded shares of Sysco from a neutral rating to a buy rating and set a $85.00 target price for the company in a research report on Tuesday, May 28th. UBS Group reduced their price objective on shares of Sysco from $92.00 to $87.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Morgan Stanley reduced their price objective on shares of Sysco from $82.00 to $81.00 and set an equal weight rating for the company in a research report on Tuesday, July 16th. Bank of America reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a buy rating for the company in a research report on Thursday, July 18th. Finally, Truist Financial reduced their price objective on shares of Sysco from $87.00 to $85.00 and set a buy rating for the company in a research report on Monday, June 24th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sysco has an average rating of Moderate Buy and an average price target of $85.27.
Read Our Latest Stock Analysis on Sysco
Sysco Stock Performance
Sysco (NYSE:SYY – Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 EPS. On average, sell-side analysts anticipate that Sysco will post 4.59 earnings per share for the current fiscal year.
Institutional Trading of Sysco
A number of hedge funds have recently bought and sold shares of SYY. Capital World Investors purchased a new stake in Sysco during the fourth quarter valued at about $683,599,000. Norges Bank purchased a new stake in shares of Sysco in the fourth quarter worth approximately $450,794,000. Capital Research Global Investors lifted its position in shares of Sysco by 112.8% in the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after purchasing an additional 3,504,740 shares in the last quarter. Swedbank AB purchased a new stake in shares of Sysco in the first quarter worth approximately $178,824,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Sysco by 132.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after purchasing an additional 2,084,501 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Articles
- Five stocks we like better than Sysco
- What is the Nikkei 225 index?
- Should You Invest in Bitcoin? Pros and Cons
- Breakout Stocks: What They Are and How to Identify Them
- Amazon Stock is Primed to Rebound Strongly After AI Bubble Bursts
- Insider Trading – What You Need to Know
- Shell Stock: Oil & Gas Giant Committed to Buybacks and Dividends
Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.