Sysco (NYSE:SYY) Price Target Raised to $92.00

Sysco (NYSE:SYY) had its price target lifted by Wells Fargo & Company from $88.00 to $92.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on SYY. Morgan Stanley dropped their price objective on Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Sanford C. Bernstein assumed coverage on shares of Sysco in a research note on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price objective for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a research report on Monday, December 29th. Finally, Barclays increased their target price on shares of Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.38.

Sysco Trading Down 0.3%

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

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

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd were given a $0.54 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.16 annualized dividend and a dividend yield of 2.6%. Sysco’s dividend payout ratio is currently 58.06%.

Insider Activity

In related news, EVP Ronald L. Phillips sold 5,601 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total value of $453,681.00. Following the sale, the executive vice president owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. This represents a 13.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sysco

A number of institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC raised its stake in Sysco by 53.1% in the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after purchasing an additional 7,742 shares during the last quarter. Janney Capital Management LLC grew its holdings in shares of Sysco by 1.7% during the second quarter. Janney Capital Management LLC now owns 25,706 shares of the company’s stock worth $1,947,000 after buying an additional 433 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Sysco by 22.2% in the second quarter. HB Wealth Management LLC now owns 27,357 shares of the company’s stock valued at $2,072,000 after buying an additional 4,965 shares during the last quarter. Sicart Associates LLC lifted its stake in shares of Sysco by 2.5% during the second quarter. Sicart Associates LLC now owns 110,680 shares of the company’s stock valued at $8,383,000 after buying an additional 2,685 shares during the period. Finally, Childress Capital Advisors LLC boosted its position in Sysco by 9.3% during the second quarter. Childress Capital Advisors LLC now owns 3,584 shares of the company’s stock worth $271,000 after acquiring an additional 306 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

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.