Sysco (NYSE:SYY – Free Report) had its target price reduced by Citigroup from $87.00 to $84.00 in a research report sent to investors on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.
SYY has been the subject of several other reports. Morgan Stanley raised their target price on Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Piper Sandler upped their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings cut Sysco from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, UBS Group lifted their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $91.13.
View Our Latest Stock Analysis on Sysco
Sysco Stock Down 2.3%
SYY stock opened at $75.14 on Thursday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.46 and a quick ratio of 0.77. Sysco has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a 50-day moving average of $80.00 and a two-hundred day moving average of $80.49. The stock has a market capitalization of $36.96 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 2.17 and a beta of 0.66.
Sysco (NYSE:SYY – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $1.19 EPS for the quarter, hitting analysts’ consensus estimates of $1.19. Sysco had a return on equity of 79.24% and a net margin of 2.12%. The business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $22.02 billion. During the same period in the previous year, the company posted $1.15 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Sysco will post 5.06 EPS for the current year.
Sysco Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is currently 60.11%.
Insider Buying and Selling at Sysco
In related news, EVP Ronald Phillips sold 7,350 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the sale, the executive vice president owned 38,650 shares in the company, valued at $3,231,526.50. This represents a 15.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Thomas Gerard Ondrof acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were acquired at an average cost of $76.62 per share, for a total transaction of $191,550.00. Following the purchase, the director directly owned 2,500 shares in the company, valued at $191,550. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 15,525 shares of company stock valued at $1,299,736 in the last three months. 0.55% of the stock is owned by company insiders.
Institutional Trading of Sysco
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Sysco during the second quarter worth approximately $3,596,356,000. Bank of America Corp DE bought a new stake in Sysco in the second quarter valued at approximately $482,589,000. Dimensional Fund Advisors LP lifted its position in shares of Sysco by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,667,412 shares of the company’s stock valued at $332,871,000 after buying an additional 59,685 shares during the last quarter. Primecap Management Co. CA acquired a new stake in shares of Sysco in the second quarter valued at approximately $313,503,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Sysco during the 2nd quarter worth approximately $273,323,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.
Key Stories Impacting Sysco
Here are the key news stories impacting Sysco this week:
- Positive Sentiment: Director Thomas Gerard Ondrof bought 2,500 shares at an average price of $76.62, a modest insider-purchase signal. SEC insider transaction filing
- Neutral Sentiment: UBS said Sysco’s execution remains on track despite first-quarter challenges, offering a more constructive view of operations. UBS commentary
- Negative Sentiment: Sysco’s quarterly revenue missed analysts’ expectations, and reports cited softer sales guidance as the main reason investors reacted poorly. Adjusted EPS matched consensus at $1.19, while revenue grew 2.8% year over year to $21.74 billion. Earnings and guidance report
- Negative Sentiment: The planned $29.1 billion Jetro Restaurant Depot acquisition remains subject to FTC clearance. A shareholder-investigation notice highlighted potential regulatory and cost exposure, adding uncertainty around the deal. Investigation notice
- Negative Sentiment: Citigroup lowered its price target to $84 from $87 and kept a neutral rating; JPMorgan also reduced its target, to $92 from $95. Both targets remain above the cited share price, but the cuts signal more cautious expectations. Citigroup rating information JPMorgan price-target update
About Sysco
Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.
The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.
Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.
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