Sysco (NYSE:SYY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sysco (NYSE:SYY) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other analysts have also recently weighed in on the company. Citigroup boosted their price target on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. UBS Group lifted their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler boosted their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, Morgan Stanley raised their price target on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average target price of $89.50.

Sysco Stock Down 1.0%

Shares of NYSE:SYY opened at $81.14 on Friday. Sysco has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a market capitalization of $38.87 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.80 and a beta of 0.64. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The company has a fifty day moving average of $83.11 and a 200-day moving average of $80.50.

Sysco (NYSE:SYY) last released its quarterly earnings data 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. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The company had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter last year, the business posted $1.48 EPS. Sysco’s revenue for the quarter was up 4.7% on a year-over-year basis. 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, equities analysts predict that Sysco will post 5.12 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, October 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. Sysco’s dividend payout ratio is presently 60.11%.

Insider Activity

In other news, EVP Ronald L. Phillips sold 7,350 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,231,526.50. This trade represents a 15.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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. In the last quarter, insiders sold 14,508 shares of company stock worth $1,215,250. 0.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Sysco

Several large investors have recently made changes to their positions in SYY. Lloyd Advisory Services LLC. bought a new position in Sysco in the fourth quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new stake in shares of Sysco in the fourth quarter worth approximately $25,000. Sunbelt Securities Inc. raised its stake in shares of Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after purchasing an additional 170 shares during the last quarter. Torren Management LLC bought a new position in shares of Sysco in the fourth quarter valued at approximately $27,000. Finally, Bard Associates Inc. purchased a new position in shares of Sysco during the fourth quarter valued at approximately $27,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

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.