Brokerages Set Sysco Corporation (NYSE:SYY) Price Target at $89.50

Sysco Corporation (NYSE:SYY) has received a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $89.50.

Several equities research analysts have recently commented on SYY shares. Morgan Stanley boosted 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. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Citigroup raised their price target on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research 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.

Sysco Price Performance

Sysco stock opened at $81.95 on Friday. The firm has a market cap of $39.26 billion, a P/E ratio of 22.39, a P/E/G ratio of 2.80 and a beta of 0.64. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. Sysco has a one year low of $68.19 and a one year high of $91.85. The stock’s 50 day moving average is $83.05 and its 200 day moving average is $80.54.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share 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 firm had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the business posted $1.48 EPS. The business’s 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 5.12 EPS for the current year.

Sysco Announces Dividend

The company also recently declared 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 payout ratio is currently 60.11%.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 506 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.09, for a total value of $42,549.54. Following the sale, the executive vice president owned 36,313 shares in the company, valued at approximately $3,053,560.17. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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. Insiders have sold a total of 14,508 shares of company stock worth $1,215,250 over the last 90 days. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Sysco

A number of hedge funds have recently added to or reduced their stakes in SYY. Lloyd Advisory Services LLC. bought a new stake in Sysco during the fourth quarter valued at about $25,000. Motiv8 Investments LLC purchased a new position in Sysco in the 4th quarter worth about $25,000. Sunbelt Securities Inc. raised its position in Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 170 shares in the last quarter. Torren Management LLC purchased a new stake in Sysco during the fourth quarter worth $27,000. Finally, Bard Associates Inc. bought a new stake in shares of Sysco in the 4th quarter valued at about $27,000. 83.41% of the stock is currently 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.