Brokerages Set Sysco Corporation (NYSE:SYY) PT at $85.85

Shares of Sysco Corporation (NYSE:SYY) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $85.8462.

SYY has been the topic of a number of research analyst reports. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Morgan Stanley lifted their price target on shares of Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Bank of America lifted their price target on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Wall Street Zen upgraded Sysco from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays lifted their target price on Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,338 shares of company stock worth $7,439,331 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings 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. Invesco Ltd. increased its stake in Sysco by 1.0% in the 1st quarter. Invesco Ltd. now owns 17,070,502 shares of the company’s stock valued at $1,280,970,000 after buying an additional 162,961 shares during the period. Boston Partners increased its stake in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after buying an additional 3,015,714 shares during the period. Geode Capital Management LLC increased its stake in Sysco by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 12,551,872 shares of the company’s stock valued at $946,694,000 after buying an additional 183,179 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Sysco by 2.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company’s stock worth $551,810,000 after acquiring an additional 146,573 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $78.44 on Tuesday. Sysco has a twelve month low of $67.12 and a twelve month high of $83.47. The firm’s fifty day simple moving average is $80.81 and its 200-day simple moving average is $76.39. The firm has a market capitalization of $37.53 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.43 and a beta of 0.82. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company had revenue of $21.14 billion for the quarter, compared to analysts’ expectations of $21.01 billion. During the same period last year, the firm earned $1.39 earnings per share. Sysco’s quarterly revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts forecast that Sysco will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s payout ratio is presently 57.91%.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.