Sysco Corporation (NYSE:SYY) Receives $89.38 Average Target Price from Brokerages

Shares of Sysco Corporation (NYSE:SYY) have received an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $89.6923.

SYY has been the topic of several research analyst reports. Citigroup lifted their price target on Sysco from $81.00 to $88.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a report on Monday, December 29th. Wells Fargo & Company upped their price target on shares of Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Finally, Morgan Stanley dropped their price target on Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 2,801 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total value of $232,454.99. Following the completion of the sale, the director owned 12,868 shares of the company’s stock, valued at $1,067,915.32. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ronald L. Phillips sold 5,601 shares of Sysco stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total value of $453,681.00. Following the transaction, the executive vice president owned 35,965 shares in the company, valued at $2,913,165. This represents a 13.47% decrease in their position. The SEC filing for this sale provides additional information. 0.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sysco

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Sysco during the fourth quarter worth approximately $542,780,000. Wellington Management Group LLP boosted its stake in shares of Sysco by 3,977.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after buying an additional 4,595,819 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Sysco by 45.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company’s stock valued at $416,472,000 after acquiring an additional 1,754,306 shares in the last quarter. Mondrian Investment Partners LTD acquired a new position in shares of Sysco in the third quarter worth $142,237,000. Finally, Vanguard Group Inc. raised its holdings in shares of Sysco by 2.0% during the second 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 in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY opened at $90.49 on Monday. Sysco has a 52-week low of $67.12 and a 52-week high of $91.40. The firm has a market capitalization of $43.34 billion, a PE ratio of 24.33, a P/E/G ratio of 2.81 and a beta of 0.61. The firm has a 50-day moving average price of $77.94 and a 200 day moving average price of $78.41. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 5.45.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The business had revenue of $20.76 billion during the quarter, compared to analysts’ expectations of $20.80 billion. During the same period last year, the firm posted $0.93 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, sell-side analysts anticipate that Sysco will post 4.58 earnings per share for the current fiscal year.

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.