Sysco Corporation (NYSE:SYY) Given Average Rating of "Hold" by Brokerages

Key Points

• Sysco has a consensus “Hold” rating from 16 brokerages: eight analysts recommend buying, seven recommend holding and one recommends selling. The average 12-month price target is $88, slightly above the stock’s $85.31 opening price.
• Several analysts recently lowered their price targets, including Bernstein to $85, Barclays to $86 and Piper Sandler to $77, while Morgan Stanley raised its target to $88 and maintained an equal-weight rating.
• Sysco shares are up 0.1%, with a market capitalization of about $40.84 billion. Institutional investors own 83.41% of the stock, and a company director recently purchased roughly $1 million worth of shares.

Shares of Sysco Corporation (NYSE:SYY - Get Free Report) have received a consensus rating of "Hold" from the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $88.00.

A number of brokerages have weighed in on SYY. Sanford C. Bernstein decreased their price objective on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a research report on Wednesday, April 29th. Barclays cut their price target on Sysco from $92.00 to $86.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Sysco in a report on Friday, June 26th. Piper Sandler lowered their price target on Sysco from $83.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. Finally, Morgan Stanley raised their price objective on Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th.

Sysco Stock Up 0.1%

SYY stock opened at $85.31 on Monday. The firm has a market cap of $40.84 billion, a PE ratio of 23.63, a P/E/G ratio of 3.36 and a beta of 0.64. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. The firm's fifty day moving average is $80.46 and its 200 day moving average is $80.18. Sysco has a one year low of $68.19 and a one year high of $91.85.

Insider Activity

In related news, Director John M. Hinshaw purchased 13,304 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director owned 40,200 shares of the company's stock, valued at $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sysco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tema ETFs LLC raised its position in shares of Sysco by 9.4% during the 2nd quarter. Tema ETFs LLC now owns 10,110 shares of the company's stock worth $845,000 after purchasing an additional 870 shares during the last quarter. A&I Financial Services LLC lifted its stake in Sysco by 13.6% in the 2nd quarter. A&I Financial Services LLC now owns 10,684 shares of the company's stock valued at $893,000 after buying an additional 1,276 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Sysco in the 2nd quarter worth about $207,000. Sax Wealth Advisors LLC boosted its holdings in Sysco by 47.4% in the 2nd quarter. Sax Wealth Advisors LLC now owns 5,859 shares of the company's stock worth $490,000 after buying an additional 1,883 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Sysco by 0.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 68,613 shares of the company's stock worth $5,735,000 after buying an additional 550 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

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.

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