Wells Fargo Keeps a Buy Rating on Sysco (SYY)
In a report released yesterday, Edward Kelly from Wells Fargo maintained a Buy rating on Sysco (SYY). The company’s shares closed last Monday at $84.13, close to its 52-week high of $86.73.
According to TipRanks.com, Kelly is a 4-star analyst with an average return of 11.8% and a 66.5% success rate. Kelly covers the Consumer Goods sector, focusing on stocks such as Performance Food Group, Sprouts Farmers, and Kroger Company.
Currently, the analyst consensus on Sysco is a Moderate Buy with an average price target of $87.20, which is a 3.4% upside from current levels. In a report issued on May 5, Credit Suisse also maintained a Buy rating on the stock with a $97.00 price target.
See today’s analyst top recommended stocks >>
Based on Sysco’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $11.82 billion and net profit of $88.93 million. In comparison, last year the company earned revenue of $13.7 billion and had a GAAP net loss of $3.3 million.
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SYY in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Texas-based Sysco Corp. markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industries. It operates through the following segments: US Foodservice Operations, International Foodservice Operations, SYGMA and Other.