Sysco (NYSE:SYY) Price Target Lowered to $81.00 at Citigroup

Sysco (NYSE:SYY) had its price target decreased by Citigroup from $82.00 to $81.00 in a research note published on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research firms also recently weighed in on SYY. Guggenheim upped their price target on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Barclays upped their target price on Sysco from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday. Piper Sandler reduced their price target on shares of Sysco from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, December 12th. Sanford C. Bernstein began coverage on shares of Sysco in a report on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a research note on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Sysco Stock Down 1.2%

Shares of NYSE SYY opened at $72.12 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 1.15 and a debt-to-equity ratio of 5.54. The firm has a market cap of $34.53 billion, a PE ratio of 19.33, a P/E/G ratio of 2.40 and a beta of 0.61. The company’s fifty day simple moving average is $74.42 and its 200 day simple moving average is $77.70. Sysco has a 12-month low of $67.12 and a 12-month high of $83.47.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.03. The firm had revenue of $21.15 billion during the quarter, compared to the consensus estimate of $21.03 billion. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts forecast that Sysco will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd will be issued a $0.54 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.16 annualized dividend and a dividend yield of 3.0%. Sysco’s dividend payout ratio is currently 57.91%.

Institutional Investors Weigh In On Sysco

A number of institutional investors have recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Sysco in the 3rd quarter worth approximately $25,000. Harbor Capital Advisors Inc. lifted its holdings in Sysco by 75.0% during the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock worth $26,000 after acquiring an additional 135 shares during the period. Chung Wu Investment Group LLC purchased a new position in Sysco in the second quarter worth $30,000. Peterson Wealth Services grew its stake in Sysco by 875.7% in the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company’s stock valued at $30,000 after purchasing an additional 324 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Sysco during the 2nd quarter valued at $31,000. 83.41% of the stock is owned by institutional investors.

About Sysco

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.