Sysco (NYSE:SYY) Price Target Raised to $86.00

Sysco (NYSE:SYY) had its price objective boosted by Citigroup from $82.00 to $86.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also commented on SYY. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research report on Tuesday, April 28th. Barclays dropped their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Piper Sandler boosted their target price on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley upped their target price on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $89.50.

Sysco Trading Down 0.3%

SYY opened at $84.10 on Wednesday. The stock has a market capitalization of $40.26 billion, a PE ratio of 22.98, a P/E/G ratio of 2.89 and a beta of 0.64. Sysco has a 12-month low of $68.19 and a 12-month high of $91.85. The firm’s fifty day moving average price is $81.30 and its 200 day moving average price is $80.39. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.80.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, research analysts expect that Sysco will post 5.1 EPS for the current fiscal year.

Insider Buying and Selling at Sysco

In other Sysco news, Director John M. Hinshaw acquired 13,304 shares of Sysco stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director owned 40,200 shares in the company, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is currently owned by company insiders.

Institutional Trading of Sysco

A number of hedge funds have recently made changes to their positions in SYY. Lloyd Advisory Services LLC. purchased a new stake in shares of Sysco during the 4th quarter worth about $25,000. Motiv8 Investments LLC acquired a new position in Sysco in the fourth quarter worth approximately $25,000. Sunbelt Securities Inc. raised its position in Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after acquiring an additional 170 shares in the last quarter. Torren Management LLC bought a new position in Sysco during the fourth quarter valued at approximately $27,000. Finally, Bard Associates Inc. acquired a new stake in Sysco in the fourth quarter valued at approximately $27,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

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.