Brokerages Set Sysco Corporation (NYSE:SYY) Target Price at $87.31

Shares of Sysco Corporation (NYSE:SYY) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $87.00.

A number of analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Morgan Stanley set a $88.00 price target on shares of Sysco in a report on Tuesday, October 21st. Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 24th. Citigroup dropped their price objective on shares of Sysco from $86.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday. Finally, UBS Group set a $90.00 price objective on shares of Sysco in a research note on Wednesday, July 30th.

Sysco Stock Performance

Shares of Sysco stock opened at $72.84 on Friday. The company has a 50 day moving average of $79.95 and a 200-day moving average of $77.09. Sysco has a 1-year low of $67.12 and a 1-year high of $83.47. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 5.54. The company has a market cap of $34.88 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The company had revenue of $21.15 billion during the quarter, compared to the consensus estimate of $21.03 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities research analysts forecast that Sysco will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 3rd were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 3.0%. Sysco’s dividend payout ratio is presently 57.91%.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 7,351 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total value of $595,431.00. Following the completion of the transaction, the executive vice president owned 41,837 shares of the company’s stock, valued at $3,388,797. This represents a 14.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 14,732 shares of company stock valued at $1,193,245. 0.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sysco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Sysco by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock worth $4,748,230,000 after acquiring an additional 1,226,381 shares during the period. Invesco Ltd. increased its holdings in Sysco by 1.0% during the 1st quarter. Invesco Ltd. now owns 17,070,502 shares of the company’s stock worth $1,280,970,000 after acquiring an additional 162,961 shares during the period. Boston Partners increased its holdings in Sysco by 24.8% during the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock worth $1,139,798,000 after acquiring an additional 3,015,714 shares during the period. Geode Capital Management LLC increased its holdings in Sysco by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 12,551,872 shares of the company’s stock worth $946,694,000 after acquiring an additional 183,179 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings in Sysco by 2.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company’s stock worth $551,810,000 after acquiring an additional 146,573 shares during the period. Institutional investors own 83.41% of the company’s stock.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.