Sysco (NYSE:SYY) Given New $82.00 Price Target at JPMorgan Chase & Co.

Sysco (NYSE:SYY) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $86.00 to $82.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.88% from the stock’s previous close.

A number of other brokerages have also weighed in on SYY. UBS Group dropped their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley lowered their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Guggenheim reiterated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

Sysco Stock Performance

Shares of SYY opened at $71.38 on Tuesday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock has a market capitalization of $34.92 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.93 and a beta of 1.17. The company’s fifty day moving average is $76.11 and its two-hundred day moving average is $75.99. Sysco has a 1 year low of $69.03 and a 1 year high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the firm earned $0.89 EPS. On average, sell-side analysts predict that Sysco will post 4.58 earnings per share for the current year.

Insider Buying and Selling

In other 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 of the company’s stock, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction 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 transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,270 shares of company stock worth $6,181,946 in the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. AMF Tjanstepension AB grew its holdings in Sysco by 185.5% during the third quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock valued at $2,446,000 after purchasing an additional 20,356 shares during the last quarter. Czech National Bank grew its holdings in Sysco by 5.6% during the third quarter. Czech National Bank now owns 100,176 shares of the company’s stock valued at $7,820,000 after purchasing an additional 5,281 shares during the last quarter. GAMMA Investing LLC grew its holdings in Sysco by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 5,738 shares of the company’s stock valued at $448,000 after buying an additional 1,107 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Sysco during the third quarter worth approximately $209,000. Finally, Fulton Bank N.A. raised its stake in Sysco by 123.3% during the 3rd quarter. Fulton Bank N.A. now owns 7,012 shares of the company’s stock valued at $547,000 after purchasing an additional 3,872 shares during the last quarter. Institutional investors and hedge funds 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.