SYSCO (NYSE:SYY) had its target price hoisted by investment analysts at Pivotal Research from $58.00 to $62.00 in a report released on Saturday. The brokerage presently has a “sell” rating on the stock. Pivotal Research’s price objective points to a potential downside of 17.15% from the company’s previous close.

SYY has been the topic of several other reports. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Zacks Investment Research lowered shares of SYSCO from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. BMO Capital Markets increased their target price on shares of SYSCO from $74.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 14th. Citigroup increased their target price on shares of SYSCO from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 19th. Finally, Morgan Stanley increased their target price on shares of SYSCO from $61.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $72.42.

Shares of NYSE SYY opened at $74.83 on Friday. The firm has a market cap of $35.68 billion, a P/E ratio of 30.17, a P/E/G ratio of 1.89 and a beta of 0.56. SYSCO has a 12-month low of $50.83 and a 12-month high of $75.33. The company has a debt-to-equity ratio of 3.76, a quick ratio of 0.90 and a current ratio of 1.44.

SYSCO (NYSE:SYY) last issued its earnings results on Monday, August 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The business had revenue of $15.32 billion for the quarter, compared to analyst estimates of $15.30 billion. SYSCO had a net margin of 2.23% and a return on equity of 64.33%. SYSCO’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. equities research analysts predict that SYSCO will post 3.01 earnings per share for the current fiscal year.

In other SYSCO news, SVP Brian R. Todd sold 9,147 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total value of $675,231.54. Following the transaction, the senior vice president now directly owns 11,747 shares of the company’s stock, valued at $867,163.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Trian Fund Management, L.P. sold 2,278,939 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $66.14, for a total transaction of $150,729,025.46. Following the completion of the transaction, the director now directly owns 4,657 shares in the company, valued at $308,013.98. The disclosure for this sale can be found here. Insiders sold 3,133,781 shares of company stock worth $207,428,536 over the last ninety days. Insiders own 9.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. raised its holdings in shares of SYSCO by 6.0% in the first quarter. Daiwa Securities Group Inc. now owns 16,714 shares of the company’s stock valued at $1,002,000 after purchasing an additional 943 shares during the last quarter. D.B. Root & Company LLC raised its holdings in shares of SYSCO by 16.1% in the first quarter. D.B. Root & Company LLC now owns 14,848 shares of the company’s stock valued at $890,000 after purchasing an additional 2,057 shares during the last quarter. Dupont Capital Management Corp raised its holdings in shares of SYSCO by 85.1% in the first quarter. Dupont Capital Management Corp now owns 40,732 shares of the company’s stock valued at $2,442,000 after purchasing an additional 18,730 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of SYSCO by 130.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 196,525 shares of the company’s stock valued at $11,784,000 after purchasing an additional 111,150 shares during the last quarter. Finally, NuWave Investment Management LLC raised its holdings in shares of SYSCO by 101.7% in the first quarter. NuWave Investment Management LLC now owns 12,250 shares of the company’s stock valued at $729,000 after purchasing an additional 6,178 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

SYSCO Company Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

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Analyst Recommendations for SYSCO (NYSE:SYY)

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