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

by · The Markets Daily

Sysco (NYSE:SYY – Get Free Report) had its target price increased by investment analysts at Jefferies Financial Group from $91.00 to $92.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 18.01% from the stock’s current price.

SYY has been the topic of several other research reports. Barclays raised their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial lowered their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. JPMorgan Chase & Co. increased their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Bank of America lowered their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.08.

Get Our Latest Stock Analysis on Sysco

Sysco Price Performance

Sysco stock opened at $77.96 on Wednesday. The stock has a market capitalization of $38.82 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.98 and a beta of 1.20. The company’s fifty day moving average price is $76.06 and its 200 day moving average price is $75.48. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. Sysco has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY – Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. As a group, equities research analysts anticipate that Sysco will post 4.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sysco

Hedge funds have recently modified their holdings of the business. Chicago Partners Investment Group LLC lifted its position in Sysco by 1.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after buying an additional 124 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in shares of Sysco by 8.2% in the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after acquiring an additional 131 shares during the last quarter. Beacon Investment Advisors LLC boosted its position in shares of Sysco by 0.5% during the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock worth $1,805,000 after purchasing an additional 133 shares during the period. Plimoth Trust Co. LLC increased its holdings in Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after purchasing an additional 139 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its position in Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after purchasing an additional 141 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Company Profile

(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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