Barclays Forecasts Strong Price Appreciation for Sysco (NYSE:SYY) Stock

Sysco (NYSE:SYY - Get Free Report) had its target price lifted by equities researchers at Barclays from $85.00 to $87.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price suggests a potential upside of 22.78% from the company's current price.

A number of other research analysts have also weighed in on SYY. Wells Fargo & Company raised their price target on shares of Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. UBS Group lowered their price target on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. StockNews.com cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and an average price target of $85.07.

Sysco Price Performance

Shares of NYSE:SYY traded down $1.68 during trading on Tuesday, reaching $70.86. 3,719,482 shares of the company's stock traded hands, compared to its average volume of 3,357,103. The firm has a market cap of $34.67 billion, a PE ratio of 18.22, a P/E/G ratio of 1.88 and a beta of 0.91. Sysco has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The company has a 50-day simple moving average of $72.80 and a 200-day simple moving average of $74.44.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the company earned $0.89 EPS. As a group, analysts predict that Sysco will post 4.58 earnings per share for the current year.

Hedge Funds Weigh In On Sysco

Several large investors have recently modified their holdings of SYY. Koshinski Asset Management Inc. raised its holdings in Sysco by 4.0% in the 1st quarter. Koshinski Asset Management Inc. now owns 5,469 shares of the company's stock valued at $410,000 after buying an additional 210 shares during the period. Canandaigua National Bank & Trust Co. raised its stake in shares of Sysco by 12.3% in the 1st quarter. Canandaigua National Bank & Trust Co. now owns 12,244 shares of the company's stock valued at $919,000 after acquiring an additional 1,338 shares during the period. Valley National Advisers Inc. lifted its holdings in shares of Sysco by 2.6% in the 1st quarter. Valley National Advisers Inc. now owns 24,510 shares of the company's stock worth $1,838,000 after acquiring an additional 630 shares during the last quarter. Amalgamated Bank boosted its position in shares of Sysco by 2.1% during the 1st quarter. Amalgamated Bank now owns 101,121 shares of the company's stock worth $7,588,000 after purchasing an additional 2,099 shares during the period. Finally, BankPlus Wealth Management LLC increased its holdings in Sysco by 11.1% in the 1st quarter. BankPlus Wealth Management LLC now owns 4,301 shares of the company's stock valued at $323,000 after purchasing an additional 431 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

About Sysco

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.