Sysco (NYSE:SYY) Given New $95.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Sysco’s price target to $95 from $100 but maintained an “overweight” rating, implying approximately 20.86% upside from the reported $78.60 share price.
• Analyst sentiment remains positive overall, with nine Buy ratings, six Holds and one Sell; MarketBeat lists a “Moderate Buy” consensus and an average target price of $90.17.
• Sysco’s latest quarterly results exceeded expectations, with earnings of $1.53 per share versus a $1.51 estimate and revenue of $22.12 billion, up 4.7% year over year.

Sysco (NYSE:SYY - Get Free Report) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $100.00 to $95.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 20.86% from the stock's current price.

A number of other research analysts have also weighed in on the company. Citigroup lifted their target price on Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Morgan Stanley increased their price target on shares of Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Sysco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 10th. Melius Research cut shares of Sysco from a "hold" rating to a "sell" rating in a research note on Tuesday, July 7th. Finally, UBS Group upped their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sysco has an average rating of "Moderate Buy" and an average target price of $90.17.

Sysco Stock Performance

SYY traded up $0.03 on Tuesday, hitting $78.60. The company's stock had a trading volume of 351,251 shares, compared to its average volume of 4,087,710. Sysco has a 12 month low of $68.19 and a 12 month high of $91.85. The firm has a market cap of $37.70 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 2.75 and a beta of 0.63. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The company's 50 day simple moving average is $82.08 and its 200-day simple moving average is $79.30.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business had revenue of $22.12 billion for the quarter, compared to analysts' expectations of $21.95 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The business's revenue for the quarter 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. Analysts forecast that Sysco will post 5.07 EPS for the current year.

Insider Buying and Selling

In other Sysco news, EVP Ronald Phillips sold 7,350 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $83.61, for a total transaction of $614,533.50. Following the sale, the executive vice president owned 38,650 shares in the company, valued at $3,231,526.50. This trade represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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. Insiders sold a total of 15,525 shares of company stock valued at $1,299,736 over the last quarter. 0.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sysco

Several institutional investors have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its position in Sysco by 22.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,004 shares of the company's stock worth $418,000 after buying an additional 903 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Sysco by 7.8% during the second quarter. Sequoia Financial Advisors LLC now owns 32,097 shares of the company's stock valued at $2,683,000 after acquiring an additional 2,314 shares during the last quarter. Tidal Investments LLC grew its position in Sysco by 27.6% during the second quarter. Tidal Investments LLC now owns 138,807 shares of the company's stock valued at $11,601,000 after acquiring an additional 29,999 shares during the last quarter. National Pension Service raised its stake in shares of Sysco by 5.9% during the second quarter. National Pension Service now owns 911,016 shares of the company's stock worth $76,143,000 after acquiring an additional 50,845 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Sysco during the second quarter worth approximately $418,000. 83.41% of the stock is currently owned by institutional investors.

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.

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