Sysco (NYSE:SYY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sysco (NYSE:SYY) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other analysts also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Sysco in a research note on Wednesday, September 16th. Weiss Ratings lowered Sysco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, September 28th. Citigroup upped their target price on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, Piper Sandler increased their price target on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Sysco Stock Down 1.6%

Shares of SYY opened at $76.27 on Friday. The firm has a market capitalization of $37.52 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.70 and a beta of 0.64. Sysco has a 12-month low of $68.19 and a 12-month high of $91.85. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The firm has a fifty day moving average price of $81.60 and a 200-day moving average price of $79.05.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter last year, the firm posted $1.48 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Equities research analysts expect that Sysco will post 5.1 earnings per share for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.9%. Sysco’s dividend payout ratio is presently 60.11%.

Insider Activity at Sysco

In related news, EVP Ronald Phillips sold 960 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $83.00, for a total value of $79,680.00. Following the completion of the transaction, the executive vice president directly owned 49,852 shares of the company’s stock, valued at $4,137,716. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. In the last ninety days, insiders sold 15,525 shares of company stock worth $1,299,736. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Sysco

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sunbelt Securities Inc. lifted its stake in shares of Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 170 shares during the period. Bard Associates Inc. purchased a new position in Sysco in the fourth quarter valued at $27,000. N.E.W. Advisory Services LLC acquired a new position in shares of Sysco in the second quarter worth about $29,000. Markowski Investments purchased a new stake in shares of Sysco during the 2nd quarter worth about $31,000. Finally, Evolution Wealth Management Inc. boosted its stake in shares of Sysco by 257.6% during the 1st quarter. Evolution Wealth Management Inc. now owns 447 shares of the company’s stock worth $32,000 after acquiring an additional 322 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

About Sysco

Sysco Corporation is a global foodservice distributor headquartered in Houston, Texas. The company supplies restaurants, hotels, healthcare facilities, educational institutions, government organizations and other foodservice customers with a broad range of products and related services.

Sysco’s offerings include fresh and frozen foods, meat and seafood, dairy products, produce, canned and dry goods, beverages, specialty and international foods, and prepared and ready-to-use items. The company also distributes nonfood products such as kitchen equipment, tableware, cleaning supplies and other operating supplies.