Sysco (NYSE:SYY) Stock Price Target Cut by Citigroup

Sysco (NYSE:SYY) had its price objective reduced by equities researchers at Citigroup from $87.00 to $84.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup‘s target price would suggest a potential upside of 11.79% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Morgan Stanley upped their target price on Sysco from $88.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, October 15th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price target on shares of Sysco in a research report on Wednesday, September 16th. Bank of America boosted their price objective on Sysco from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Sysco in a report on Wednesday. Finally, DA Davidson lifted their price objective on shares of Sysco from $89.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.13.

Sysco Stock Down 2.3%

Shares of Sysco stock traded down $1.80 during trading hours on Thursday, hitting $75.14. The company had a trading volume of 4,722,266 shares, compared to its average volume of 4,032,702. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.46 and a quick ratio of 0.77. The company’s 50-day moving average is $80.17 and its two-hundred day moving average is $80.51. The company has a market cap of $36.96 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 2.08 and a beta of 0.66. Sysco has a twelve month low of $68.19 and a twelve month high of $91.85.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $22.02 billion. Sysco had a net margin of 2.12% and a return on equity of 79.24%. Sysco’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. Analysts anticipate that Sysco will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Sysco

In other news, Director Thomas Gerard Ondrof acquired 2,500 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was bought at an average price of $76.62 per share, for a total transaction of $191,550.00. Following the transaction, the director owned 2,500 shares in the company, valued at $191,550. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ronald Phillips sold 7,350 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,231,526.50. This trade represents a 15.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 15,525 shares of company stock worth $1,299,736 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Sunbelt Securities Inc. boosted its holdings in Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after buying an additional 170 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Sysco by 718.6% in the third quarter. Salomon & Ludwin LLC now owns 352 shares of the company’s stock worth $27,000 after acquiring an additional 309 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Sysco in the 2nd quarter valued at about $29,000. Markowski Investments purchased a new position in Sysco in the 2nd quarter valued at about $31,000. Finally, Parvin Asset Management LLC acquired a new stake in shares of Sysco during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Key Sysco News

Here are the key news stories impacting Sysco this week:

• Positive Sentiment: Sysco’s local case volume grew 2.7% in fiscal Q1, and its AI transformation is aimed at generating $100 million in savings in fiscal 2027. Sysco: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: UBS said execution remains on track despite first-quarter challenges, offering a supportive view of the company’s operating performance. Sysco’s Execution Remains on Track Amid Fiscal Q1 Challenges, UBS Says
• Neutral Sentiment: Sysco kicked off its annual Purpose Month focused on food insecurity and continued its partnership with Happy Day Brands; the announcement may support its reputation but is not a clear near-term earnings catalyst. Sysco Kicks Off 4th Annual Purpose Month
• Negative Sentiment: Fiscal Q1 EPS met expectations, but revenue missed estimates, and softer sales guidance sparked concern about near-term growth. Reports linked the earnings release to a sharp share decline. Sysco retreats on revenue miss and softer sales guidance
• Negative Sentiment: The proposed $29.1 billion Jetro Restaurant Depot acquisition remains subject to FTC clearance, creating regulatory and cost uncertainty. An investor notice also reported a pending investigation related to the deal. Sysco Investigation Notice
• Negative Sentiment: JPMorgan lowered its price target to $92 from $95, a less favorable revision even though the new target remains above the recent share price. JPMorgan Adjusts Price Target on Sysco

About Sysco

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.