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

Sysco (NYSE:SYY) had its price target dropped by analysts at JPMorgan Chase & Co. from $86.00 to $82.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 15.59% from the company’s current price.

SYY has been the subject of a number of other reports. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. UBS Group reduced their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Melius started coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Finally, Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.38.

Sysco Trading Down 1.9 %

Shares of SYY traded down $1.37 during mid-day trading on Tuesday, reaching $70.94. 1,152,455 shares of the company were exchanged, compared to its average volume of 3,458,944. The stock has a market capitalization of $34.70 billion, a PE ratio of 18.23, a PEG ratio of 1.93 and a beta of 1.18. The business has a 50 day simple moving average of $76.30 and a two-hundred day simple moving average of $76.02. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco has a 52 week low of $69.03 and a 52 week high of $82.33.

Sysco (NYSE:SYY) last issued its earnings results 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 period in the prior year, the company earned $0.89 earnings per share. On average, analysts predict that Sysco will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now directly owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’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 completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock worth $6,181,946 over the last ninety days. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of Sysco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Armstrong Advisory Group Inc. raised its stake in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Sysco during the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the 3rd quarter valued at $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the 4th quarter valued at $31,000. Finally, Focused Wealth Management Inc purchased a new position in Sysco during the third quarter worth about $37,000. 83.41% of the stock is currently owned by institutional investors.

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.