Citigroup Has Lowered Expectations for Sysco (NYSE:SYY) Stock Price

Sysco (NYSE:SYY) had its price target decreased by equities researchers at Citigroup from $87.00 to $84.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup‘s price objective indicates a potential upside of 9.31% from the company’s current price.

A number of other research analysts have also recently commented on the company. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Sysco in a research report on Wednesday. Guggenheim reiterated a “buy” rating and set a $90.00 price target on shares of Sysco in a research note on Wednesday, September 16th. UBS Group lifted their price objective on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Finally, Weiss Ratings downgraded shares of Sysco from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.13.

Sysco Stock Performance

Shares of NYSE:SYY traded up $1.61 during mid-day trading on Thursday, reaching $76.85. The company had a trading volume of 6,888,690 shares, compared to its average volume of 2,805,662. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The firm has a market cap of $37.80 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.30 and a beta of 0.66. The company’s 50-day moving average price is $79.89 and its 200-day moving average price is $80.50. Sysco has a one year low of $68.19 and a one year high of $91.85.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $1.19 EPS for the quarter, meeting the consensus estimate of $1.19. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The business had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $22.02 billion. During the same quarter in the prior year, the business earned $1.15 earnings per share. Sysco’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Sysco will post 5.07 EPS for the current fiscal year.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 7,350 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total value of $614,533.50. Following the transaction, the executive vice president owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. This represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Thomas Gerard Ondrof acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was acquired at an average price of $76.62 per share, for a total transaction of $191,550.00. Following the transaction, the director directly owned 2,500 shares of the company’s stock, valued at $191,550. This represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 15,525 shares of company stock valued at $1,299,736. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Sysco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. D.B. Root & Company LLC increased its stake in Sysco by 1.9% in the 3rd quarter. D.B. Root & Company LLC now owns 6,974 shares of the company’s stock worth $544,000 after acquiring an additional 131 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in shares of Sysco by 1.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 9,727 shares of the company’s stock valued at $758,000 after acquiring an additional 133 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Sysco by 1.3% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 11,356 shares of the company’s stock valued at $885,000 after acquiring an additional 144 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Sysco by 7.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,241 shares of the company’s stock valued at $187,000 after acquiring an additional 147 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Sysco by 2.1% during the third quarter. Pinnacle Associates Ltd. now owns 7,399 shares of the company’s stock worth $577,000 after purchasing an additional 150 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Sysco

Here are the key news stories impacting Sysco this week:

• Positive Sentiment: Director Thomas Gerard Ondrof purchased 2,500 shares at an average price of $76.62, a modest sign of insider confidence. Director stock purchase
• Neutral Sentiment: Citigroup lowered its price target from $87 to $84 and maintained a Hold/neutral rating. The target still implies potential upside from the cited share price, but the reduction reflects more restrained expectations. Citi rating
• Negative Sentiment: JPMorgan also lowered its expectations for SYY, adding to a cautious analyst tone. JPMorgan expectations
• Negative Sentiment: Sysco’s latest quarterly revenue of $21.74 billion fell short of analyst estimates, although earnings per share matched expectations at $1.19 and revenue grew 2.8% year over year. Recent trading and results context
• Negative Sentiment: The proposed $29.1 billion Jetro Restaurant Depot acquisition is still awaiting FTC clearance; regulatory and cost exposure has drawn investor scrutiny and could add uncertainty. Acquisition investigation notice

Sysco Company Profile

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries.

The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.

Sysco serves customers across the United States and in international markets, including Canada and parts of Europe.