Sysco Corporation (NYSE:SYY) Receives $88.15 Average Price Target from Analysts

Shares of Sysco Corporation (NYSE:SYY) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $88.1538.

SYY has been the topic of a number of research reports. Wells Fargo & Company lifted their target price on shares of Sysco from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Weiss Ratings cut shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 30th. Citigroup lifted their price objective on Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Sanford C. Bernstein dropped their target price on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a report on Tuesday, April 28th.

Sysco Stock Performance

Sysco stock opened at $78.64 on Friday. Sysco has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The firm has a market capitalization of $37.60 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65. The firm’s 50 day simple moving average is $75.30 and its 200 day simple moving average is $78.29.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, analysts expect that Sysco will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. This is an increase from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.8%. Sysco’s payout ratio is 59.83%.

Insider Activity at Sysco

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of Sysco stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the acquisition, the director directly owned 40,200 shares in the company, valued at approximately $3,021,834. This represents a 49.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sysco

Several institutional investors have recently made changes to their positions in SYY. Empowered Funds LLC lifted its holdings in Sysco by 74.8% during the first quarter. Empowered Funds LLC now owns 97,033 shares of the company’s stock worth $6,921,000 after buying an additional 41,525 shares during the period. Evansbrook LLC boosted its stake in Sysco by 3.7% in the 1st quarter. Evansbrook LLC now owns 7,844 shares of the company’s stock worth $560,000 after purchasing an additional 280 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Sysco by 10.3% during the first quarter. Parallel Advisors LLC now owns 6,060 shares of the company’s stock worth $432,000 after buying an additional 568 shares during the period. Optiver Holding B.V. acquired a new position in Sysco in the 1st quarter worth approximately $51,000. Finally, First Nebraska Trust Co purchased a new position in shares of Sysco during the 1st quarter valued at about $156,697,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

About Sysco

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.