Sysco Corporation (NYSE:SYY) Stock Has Average Price Target of $91.13 According to Analysts

Key Points

• Analyst sentiment is moderately positive: Eighteen brokerages give Sysco a consensus “Moderate Buy” rating, with 11 buys, six holds and one sell. Their average 12-month price target is $91.13.
• Quarterly earnings per share matched expectations at $1.19, while revenue of $21.74 billion came in below the $22.02 billion consensus estimate; revenue was up 2.8% year over year.
• Sysco pays an annualized dividend of $2.20 per share, equivalent to a 2.8% yield at the price cited in the article.

Shares of Sysco Corporation (NYSE:SYY - Get Free Report) have received a consensus rating of "Moderate Buy" from the eighteen brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $91.13.

Several equities research analysts have recently commented on SYY shares. Piper Sandler upped their price target on Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $95.00 to $92.00 in a research report on Wednesday, November 4th. BMO Capital Markets boosted their price objective on shares of Sysco from $90.00 to $98.00 in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Sysco from $86.00 to $89.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings downgraded shares of Sysco from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, November 3rd.

Insider Transactions at Sysco

In related news, EVP Ronald Phillips sold 7,350 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the transaction, the executive vice president directly owned 38,650 shares of the company's stock, valued at $3,231,526.50. This 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 link. 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. Also, Director Thomas Gerard Ondrof acquired 2,500 shares of Sysco stock in a transaction that occurred on Wednesday, November 4th. The stock was purchased at an average price of $76.62 per share, with a total value of $191,550.00. Following the transaction, the director owned 2,500 shares of the company's stock, valued at $191,550. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 8,873 shares of company stock worth $741,569. Company insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SYY. Private Advisor Group LLC increased its holdings in shares of Sysco by 71.4% in the 3rd quarter. Private Advisor Group LLC now owns 69,320 shares of the company's stock valued at $5,404,000 after purchasing an additional 28,873 shares in the last quarter. Focus Advisor Solutions LLC lifted its stake in shares of Sysco by 90.3% in the third quarter. Focus Advisor Solutions LLC now owns 33,392 shares of the company's stock valued at $2,603,000 after purchasing an additional 15,843 shares during the period. Checchi Capital Advisers LLC lifted its stake in shares of Sysco by 9.0% in the third quarter. Checchi Capital Advisers LLC now owns 5,362 shares of the company's stock valued at $418,000 after purchasing an additional 441 shares during the period. OneAscent Family Office LLC grew its position in Sysco by 15.2% during the third quarter. OneAscent Family Office LLC now owns 3,267 shares of the company's stock worth $255,000 after buying an additional 432 shares during the period. Finally, Voya Investment Management LLC grew its position in Sysco by 94.4% during the third quarter. Voya Investment Management LLC now owns 198,115 shares of the company's stock worth $15,445,000 after buying an additional 96,228 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Performance

NYSE SYY opened at $77.57 on Wednesday. The firm has a market cap of $38.19 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.92 and a beta of 0.66. Sysco has a 52-week low of $68.19 and a 52-week high of $91.85. The business's 50-day moving average price is $79.75 and its 200 day moving average price is $80.51. The company has a quick ratio of 0.95, a current ratio of 1.46 and a debt-to-equity ratio of 3.18.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $1.19 EPS for the quarter, meeting the consensus estimate of $1.19. Sysco had a return on equity of 79.24% and a net margin of 2.12%. The firm had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $22.02 billion. During the same period in the prior year, the business earned $1.15 EPS. The firm's revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Sysco will post 5.06 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, October 2nd. Sysco's payout ratio is 58.51%.

About Sysco

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries. The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.

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