Brokerages Set Sysco Corporation (NYSE:SYY) Target Price at $88.15

Sysco Corporation (NYSE:SYY) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $88.1538.

A number of research firms have commented on SYY. BMO Capital Markets reiterated an “outperform” rating on shares of Sysco in a research report on Wednesday, January 28th. Argus upgraded Sysco to a “hold” rating in a research report on Thursday, January 29th. Wells Fargo & Company upped their price target on Sysco from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. Barclays reduced their price target 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, Truist Financial upped their target price on Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th.

Institutional Investors Weigh In On Sysco

Several institutional investors and hedge funds have recently made changes to their positions in the business. Montag A & Associates Inc. boosted its position in shares of Sysco by 1.4% during the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after purchasing an additional 123 shares in the last quarter. United Community Bank boosted its position in shares of Sysco by 11.4% during the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after purchasing an additional 125 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Sysco by 1.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock valued at $827,000 after purchasing an additional 138 shares in the last quarter. Octavia Wealth Advisors LLC raised its stake in Sysco by 4.6% during the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock worth $237,000 after buying an additional 141 shares during the period. Finally, Diversify Wealth Management LLC raised its stake in Sysco by 1.6% during the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock worth $698,000 after buying an additional 143 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.9%

Shares of SYY stock opened at $76.30 on Wednesday. The firm has a market capitalization of $36.49 billion, a P/E ratio of 21.14, a P/E/G ratio of 3.14 and a beta of 0.66. Sysco has a twelve month low of $68.19 and a twelve month high of $91.85. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The stock’s fifty day simple moving average is $76.03 and its 200 day simple moving average is $78.02.

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

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco’s previous quarterly dividend of $0.54. Sysco’s dividend payout ratio is currently 59.83%.

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.