Morgan Stanley Increases Sysco (NYSE:SYY) Price Target to $88.00

Sysco (NYSE:SYY) had its target price boosted by research analysts at Morgan Stanley from $84.00 to $88.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 7.82% from the company’s previous close.

A number of other research firms also recently weighed in on SYY. Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research note on Tuesday, April 28th. Citigroup lifted their price objective on Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein lowered their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Barclays dropped their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Piper Sandler reduced their price target on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.00.

Sysco Stock Down 0.8%

NYSE:SYY opened at $81.62 on Thursday. The firm has a market capitalization of $39.03 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 3.13 and a beta of 0.64. Sysco has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The business’s fifty day moving average price is $78.63 and its 200 day moving average price is $79.45.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The company had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, sell-side analysts forecast that Sysco will post 4.59 earnings per share for the current fiscal year.

Insider Activity at Sysco

In related news, Director John M. Hinshaw acquired 13,304 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Sysco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC lifted its position in Sysco by 53.1% during the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock worth $1,674,000 after acquiring an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. grew its position in shares of Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after purchasing an additional 2,000 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Sysco by 62.4% in the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after purchasing an additional 13,616 shares during the period. Sei Investments Co. increased its stake in shares of Sysco by 14.2% in the second quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock worth $26,092,000 after purchasing an additional 42,903 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in shares of Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock worth $17,166,000 after purchasing an additional 1,710 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

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.