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

Shares of Sysco Corporation (NYSE:SYY) have received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $89.50.

A number of analysts have recently commented on the stock. Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. UBS Group lifted their price target on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Citigroup boosted their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Finally, Wall Street Zen raised shares of Sysco from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th.

Insiders Place Their Bets

In other Sysco news, EVP Ronald Phillips sold 7,350 shares of Sysco stock in a transaction on Friday, August 21st. The stock was sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the transaction, 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. Over the last three months, insiders sold 14,508 shares of company stock worth $1,215,250. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sysco

Several institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its stake in Sysco by 10,045.8% in the 2nd quarter. California State Teachers Retirement System now owns 63,555,151 shares of the company’s stock worth $5,311,940,000 after purchasing an additional 62,928,735 shares in the last quarter. BlackRock Inc. bought a new stake in Sysco during the 2nd quarter valued at about $3,596,356,000. Norges Bank bought a new stake in Sysco during the 4th quarter valued at about $542,780,000. Bank of America Corp DE purchased a new position in Sysco in the second quarter worth about $482,589,000. Finally, Wellington Management Group LLP raised its holdings in Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after buying an additional 4,595,819 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Down 0.9%

SYY opened at $81.00 on Friday. The stock has a market cap of $38.81 billion, a PE ratio of 22.13, a PEG ratio of 2.79 and a beta of 0.63. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The business has a 50 day moving average of $83.19 and a 200-day moving average of $80.33. Sysco has a 52 week low of $68.19 and a 52 week high of $91.85.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company 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. Equities research analysts predict that Sysco will post 5.12 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be given 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 of this dividend is Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is 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.