Citigroup Has Lowered Expectations for Sysco (NYSE:SYY) Stock Price

Sysco (NYSE:SYY) had its price objective decreased by analysts at Citigroup from $82.00 to $81.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 10.88% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Sanford C. Bernstein started coverage on Sysco in a report on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price target on the stock. Morgan Stanley set a $88.00 price objective on shares of Sysco in a report on Tuesday, October 21st. Guggenheim lifted their target price on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a research report on Monday, December 29th. Finally, Piper Sandler lowered their price objective on shares of Sysco from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Sysco Trading Up 0.0%

Shares of NYSE SYY traded up $0.04 during midday trading on Wednesday, reaching $73.06. The company had a trading volume of 1,615,301 shares, compared to its average volume of 2,912,802. The stock has a market cap of $34.98 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 2.39 and a beta of 0.61. Sysco has a one year low of $67.12 and a one year high of $83.47. The company has a quick ratio of 0.65, a current ratio of 1.15 and a debt-to-equity ratio of 5.54. The firm’s fifty day moving average price is $74.46 and its 200-day moving average price is $77.74.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.03. The business had revenue of $21.15 billion during the quarter, compared to analysts’ expectations of $21.03 billion. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities research analysts anticipate that Sysco will post 4.58 earnings per share for the current year.

Institutional Trading of Sysco

Institutional investors have recently made changes to their positions in the stock. Salvus Wealth Management LLC purchased a new stake in Sysco in the 2nd quarter valued at $329,000. Norges Bank acquired a new stake in Sysco during the second quarter worth about $493,686,000. Gateway Investment Advisers LLC raised its stake in Sysco by 594.8% during the third quarter. Gateway Investment Advisers LLC now owns 85,622 shares of the company’s stock worth $7,050,000 after purchasing an additional 73,298 shares during the period. Accurate Wealth Management LLC acquired a new position in Sysco in the 3rd quarter valued at about $2,497,000. Finally, Brighton Jones LLC grew its stake in shares of Sysco by 4.3% in the 2nd quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock valued at $6,842,000 after buying an additional 3,760 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Company Profile

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.