Sysco (NYSE:SYY) Price Target Raised to $88.00

Sysco (NYSE:SYY) had its price objective lifted by Morgan Stanley from $84.00 to $88.00 in a research report report published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Tuesday, April 28th. Sanford C. Bernstein dropped their price target on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Citigroup upped their price objective on shares of Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Piper Sandler decreased their price objective on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Finally, Barclays lowered their target price on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sysco has a consensus rating of “Hold” and an average price target of $88.00.

Sysco Stock Down 0.8%

Shares of SYY opened at $81.62 on Thursday. The stock’s 50-day moving average price is $78.63 and its two-hundred day moving average price is $79.45. Sysco has a 12 month low of $68.19 and a 12 month high of $91.85. The company has a market capitalization of $39.03 billion, a PE ratio of 22.61, a PEG ratio of 3.11 and a beta of 0.64. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.56 billion. During the same period in the previous year, the company posted $0.96 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, analysts anticipate that Sysco will post 4.59 EPS for the current year.

Insiders Place Their Bets

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the acquisition, the director owned 40,200 shares in the company, valued at $3,021,834. This trade represents a 49.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.56% of the company’s stock.

Institutional Trading of Sysco

Several large investors have recently modified their holdings of the stock. Intech Investment Management LLC lifted its position in shares of Sysco by 53.1% during the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after acquiring an additional 7,742 shares during the period. Schnieders Capital Management LLC. grew its holdings in Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after purchasing an additional 2,000 shares during the period. NewEdge Advisors LLC grew its holdings in Sysco by 62.4% in the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after purchasing an additional 13,616 shares during the period. Sei Investments Co. increased its stake in Sysco by 14.2% in the second quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock valued at $26,092,000 after purchasing an additional 42,903 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Sysco by 0.8% in the second quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after purchasing an additional 1,710 shares in the last quarter. 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.