UBS Group Has Lowered Expectations for Sysco (NYSE:SYY) Stock Price

Sysco (NYSE:SYY) had its price target lowered by UBS Group from $87.00 to $86.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 18.77% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Melius assumed coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Morgan Stanley dropped their price target on Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. Jefferies Financial Group boosted their target price on shares of 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 shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average target price of $85.36.

Sysco Trading Up 0.2 %

Shares of Sysco stock traded up $0.13 during trading hours on Wednesday, reaching $72.41. The stock had a trading volume of 551,587 shares, compared to its average volume of 3,027,591. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco has a 1 year low of $69.03 and a 1 year high of $82.89. The firm has a market capitalization of $35.57 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 2.04 and a beta of 1.18. The firm has a 50 day simple moving average of $76.43 and a two-hundred day simple moving average of $76.03.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same quarter last year, the business earned $0.89 earnings per share. As a group, equities research analysts anticipate that Sysco will post 4.57 earnings per share for the current year.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $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. In the last 90 days, insiders sold 83,306 shares of company stock valued at $6,485,050. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Sysco

Institutional investors have recently modified their holdings of the business. State Street Corp boosted its position in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after acquiring an additional 2,721,449 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Sysco in the third quarter valued at about $137,900,000. Nordea Investment Management AB raised its stake in Sysco by 52.3% during the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after acquiring an additional 933,327 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Sysco in the 3rd quarter valued at approximately $44,722,000. 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.