Sysco Corporation (NYSE:SYY) Receives $89.50 Consensus Target Price from Brokerages

Shares of Sysco Corporation (NYSE:SYY) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $89.50.

Several research firms recently weighed in on SYY. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Morgan Stanley boosted their price objective on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Citigroup raised their target price on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings raised Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Finally, UBS Group boosted their price target on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 7,350 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the sale, the executive vice president owned 38,650 shares in the company, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Insiders sold a total of 14,508 shares of company stock worth $1,215,250 over the last quarter. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Sysco

Institutional investors have recently modified their holdings of the business. California State Teachers Retirement System increased its stake in Sysco by 10,045.8% in the second quarter. California State Teachers Retirement System now owns 63,555,151 shares of the company’s stock valued at $5,311,940,000 after purchasing an additional 62,928,735 shares during the period. BlackRock Inc. acquired a new stake in shares of Sysco during the second quarter worth about $3,596,356,000. Norges Bank acquired a new stake in shares of Sysco during the fourth quarter worth about $542,780,000. Bank of America Corp DE purchased a new position in shares of Sysco during the second quarter worth about $482,589,000. Finally, Wellington Management Group LLP increased its position in Sysco by 3,977.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after acquiring an additional 4,595,819 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Up 1.2%

Shares of SYY opened at $82.05 on Friday. The firm has a market cap of $39.31 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 2.77 and a beta of 0.63. Sysco has a 12-month low of $68.19 and a 12-month high of $91.85. The company’s 50-day moving average price is $83.16 and its 200 day moving average price is $80.46. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. Sysco’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, sell-side analysts forecast that Sysco will post 5.12 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is currently 60.11%.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.