Piper Sandler Lowers Sysco (NYSE:SYY) Price Target to $77.00

Sysco (NYSE:SYY) had its target price cut by Piper Sandler from $83.00 to $77.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 2.43% from the company’s previous close.

A number of other brokerages have also recently issued reports on SYY. JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Jefferies Financial Group increased their target price on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. UBS Group dropped their target price on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Weiss Ratings downgraded shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 30th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.85.

Sysco Stock Performance

Shares of NYSE SYY opened at $75.17 on Tuesday. The business has a fifty day simple moving average of $83.88 and a 200 day simple moving average of $79.11. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45. The firm has a market capitalization of $36.00 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.57 and a beta of 0.69. Sysco has a one year low of $67.12 and a one year high of $91.85.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share 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 for the quarter, compared to analyst estimates of $20.80 billion. During the same period in the previous year, the business earned $0.93 EPS. The firm’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. Sell-side analysts expect that Sysco will post 4.58 EPS for the current year.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 5,601 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total transaction of $453,681.00. Following the sale, the executive vice president owned 35,965 shares of the company’s stock, valued at $2,913,165. This represents a 13.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sheila Talton sold 2,801 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the sale, the director directly owned 12,868 shares in the company, valued at approximately $1,067,915.32. This represents a 17.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SYY. Norges Bank bought a new position in Sysco in the 4th quarter worth approximately $542,780,000. Wellington Management Group LLP boosted its holdings in Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after acquiring an additional 4,595,819 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Sysco by 45.0% in the fourth 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 during the last quarter. Mondrian Investment Partners LTD bought a new position in Sysco in the third quarter valued at about $142,237,000. Finally, Marshall Wace LLP boosted its holdings in Sysco by 102.6% in the third quarter. Marshall Wace LLP now owns 2,359,471 shares of the company’s stock valued at $194,279,000 after acquiring an additional 1,194,815 shares during the last quarter. Institutional investors 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.