Jefferies Financial Group Raises Sysco (NYSE:SYY) Price Target to $92.00

Sysco (NYSE:SYY) had its price objective boosted by equities researchers at Jefferies Financial Group from $91.00 to $92.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 18.01% from the company’s previous close.

Several other research analysts have also recently issued reports on SYY. Truist Financial lowered their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, May 28th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley dropped their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Barclays increased their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Price Performance

Shares of SYY opened at $77.96 on Wednesday. The company has a market cap of $38.82 billion, a P/E ratio of 19.01, a PEG ratio of 1.98 and a beta of 1.20. Sysco has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The firm’s 50 day moving average price is $76.06 and its 200 day moving average price is $75.48.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.34 earnings per share. On average, research analysts forecast that Sysco will post 4.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group increased its stake in shares of Sysco by 1.1% during the 2nd quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 17,045 shares of the company’s stock valued at $1,217,000 after acquiring an additional 178 shares during the last quarter. Heritage Wealth Management Inc. acquired a new position in shares of Sysco during the second quarter worth about $387,000. Sanctuary Advisors LLC acquired a new position in Sysco during the 2nd quarter worth approximately $6,827,000. Brown Financial Advisors purchased a new position in shares of Sysco in the second quarter valued at $669,000. Finally, Heritage Oak Wealth Advisors LLC purchased a new position in Sysco in the 2nd quarter valued at about $590,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

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.