Sysco (NYSE:SYY) Price Target Raised to $87.00

Sysco (NYSE:SYY) had its price objective lifted by JPMorgan Chase & Co. from $85.00 to $87.00 in a research report sent to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages also recently commented on SYY. Barclays boosted their target price on shares of Sysco from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday. Guggenheim boosted their price objective on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Citigroup increased their target price on shares of Sysco from $81.00 to $88.00 and gave the company a “neutral” rating in a research report on Wednesday. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Piper Sandler upped their price target on Sysco from $80.00 to $83.00 and gave the stock a “neutral” rating in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.38.

Sysco Stock Down 0.3%

Shares of NYSE SYY opened at $83.85 on Wednesday. Sysco has a 52-week low of $67.12 and a 52-week high of $85.33. The firm has a market capitalization of $40.16 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.67 and a beta of 0.61. The stock has a 50 day moving average price of $75.61 and a 200 day moving average price of $77.90. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.65 and a current ratio of 1.30.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The company had revenue of $20.76 billion during the quarter, compared to analyst estimates of $20.80 billion. During the same period in the prior year, the firm earned $0.93 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Sell-side analysts expect that Sysco will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Friday, January 2nd were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. Sysco’s dividend payout ratio is 58.06%.

Insider Activity

In other news, EVP Ronald L. Phillips sold 5,601 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total transaction of $453,681.00. Following the sale, the executive vice president directly owned 35,965 shares in the company, valued at $2,913,165. This trade represents a 13.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sysco

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Sysco by 2.0% in the second quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after purchasing an additional 1,226,381 shares during the period. State Street Corp lifted its stake in Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after buying an additional 246,542 shares in the last quarter. Capital Research Global Investors lifted its stake in Sysco by 0.3% in the 3rd quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock valued at $1,511,821,000 after buying an additional 46,040 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sysco by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 12,551,872 shares of the company’s stock worth $946,694,000 after buying an additional 183,179 shares during the last quarter. Finally, Norges Bank purchased a new stake in Sysco during the 2nd quarter worth approximately $493,686,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

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.