Sysco (NYSE:SYY) Price Target Raised to $94.00

Sysco (NYSE:SYY) had its target price hoisted by Truist Financial from $90.00 to $94.00 in a report issued on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on SYY. Morgan Stanley cut their price target on Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Jefferies Financial Group increased their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of Sysco from $88.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Barclays boosted their target price on Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.38.

Sysco Price Performance

Shares of NYSE SYY opened at $83.85 on Wednesday. The company has a market capitalization of $40.16 billion, a PE ratio of 22.54, a P/E/G ratio of 2.67 and a beta of 0.61. 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 has a twelve month low of $67.12 and a twelve month high of $85.33. The firm has a fifty day simple moving average of $75.61 and a 200 day simple moving average of $77.90.

Sysco (NYSE:SYY) last issued its quarterly earnings results 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 return on equity of 109.21% and a net margin of 2.17%.The firm had revenue of $20.76 billion during the quarter, compared to the consensus estimate of $20.80 billion. During the same period last year, the business posted $0.93 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, sell-side analysts forecast that Sysco will post 4.58 EPS for the current year.

Sysco Dividend Announcement

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

Insider Buying and Selling at Sysco

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

Institutional Trading of Sysco

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

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.