Shares of Sysco Corporation (NYSE:SYY – Get Free Report) have received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $89.50.
A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Sunday, September 6th. Guggenheim reiterated a “buy” rating and issued a $90.00 target price on shares of Sysco in a report on Wednesday, September 16th. Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Sysco from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 10th.
Read Our Latest Stock Report on SYY
Sysco Stock Performance
Sysco (NYSE:SYY – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The company had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the prior year, the business earned $1.48 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, research analysts predict that Sysco will post 5.07 EPS for the current year.
Sysco Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, October 2nd. Sysco’s dividend payout ratio is presently 60.11%.
Insider Transactions at Sysco
In other Sysco news, EVP Ronald Phillips sold 960 shares of Sysco stock in a transaction on Friday, September 11th. The stock was sold at an average price of $83.00, for a total value of $79,680.00. Following the sale, the executive vice president owned 49,852 shares in the company, valued at $4,137,716. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Insiders sold a total of 15,525 shares of company stock worth $1,299,736 over the last ninety days. 0.56% of the stock is owned by company insiders.
Institutional Trading of Sysco
A number of hedge funds and other institutional investors have recently modified their holdings of SYY. BlackRock Inc. acquired a new position in Sysco during the 2nd quarter worth about $3,596,356,000. Norges Bank purchased a new position in Sysco during the 4th quarter valued at about $542,780,000. Bank of America Corp DE acquired a new position in Sysco in the 2nd quarter valued at about $482,589,000. Primecap Management Co. CA purchased a new stake in Sysco during the second quarter worth about $313,503,000. Finally, Bank of New York Mellon Corp purchased a new stake in Sysco during the second quarter worth about $273,323,000. 83.41% of the stock is owned by institutional investors and hedge funds.
Sysco Company Profile
Sysco Corporation (NYSE:SYY) is a global foodservice distributor that supplies restaurants, health care and educational institutions, hospitality businesses, government facilities, and other customers. Its product portfolio includes fresh and frozen foods, meat and seafood, dairy products, produce, pantry staples, beverages, and specialty items, along with nonfood products such as kitchen equipment, cleaning supplies, and disposable serving products.
In addition to distribution, Sysco provides services designed to support foodservice operators, including menu planning, culinary consulting, merchandising assistance, supply-chain solutions, and business-management resources.
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