Sysco (NYSE:SYY) Price Target Cut to $77.00 by Analysts at Piper Sandler

Sysco (NYSE:SYY) had its target price decreased by Piper Sandler from $83.00 to $77.00 in a research note published on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley dropped their target price on shares of Sysco from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sysco in a research report on Wednesday, January 28th. Sanford C. Bernstein set a $90.00 target price on Sysco and gave the company a “market perform” rating in a research report on Wednesday, January 28th. Jefferies Financial Group lifted their target price on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.85.

Sysco Stock Down 0.3%

Sysco stock opened at $73.04 on Tuesday. Sysco has a fifty-two week low of $67.12 and a fifty-two week high of $91.85. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30. The firm has a 50 day moving average price of $84.05 and a 200 day moving average price of $79.14. The company has a market capitalization of $34.98 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.57 and a beta of 0.69.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The firm had revenue of $20.76 billion during the quarter, compared to the consensus estimate of $20.80 billion. During the same quarter last year, the firm earned $0.93 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Research analysts expect that Sysco will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 2nd will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, April 2nd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.0%. Sysco’s payout ratio is presently 58.06%.

Insiders Place Their Bets

In related news, EVP Ronald L. Phillips sold 5,601 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the transaction, the executive vice president owned 35,965 shares in the company, valued at approximately $2,913,165. The trade was a 13.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sheila Talton sold 2,801 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $82.99, for a total value of $232,454.99. Following the completion of the transaction, the director directly owned 12,868 shares of the company’s stock, valued at $1,067,915.32. This trade represents a 17.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Sysco

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jackson Grant Investment Advisers Inc. acquired a new position in Sysco in the third quarter valued at approximately $25,000. Harbor Capital Advisors Inc. boosted its stake in Sysco by 75.0% in the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new position in Sysco in the fourth quarter valued at $25,000. Motiv8 Investments LLC acquired a new position in Sysco in the fourth quarter valued at $25,000. Finally, Peterson Wealth Services boosted its stake in Sysco by 875.7% in the third quarter. Peterson Wealth Services now owns 361 shares of the company’s stock valued at $30,000 after acquiring an additional 324 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

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.