Piper Sandler Lowers Sysco (NYSE:SYY) Price Target to $77.00

Sysco (NYSE:SYY) had its price target cut by research analysts at Piper Sandler from $83.00 to $77.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 5.86% from the stock’s previous close.

Several other analysts also recently issued reports on SYY. Sanford C. Bernstein set a $90.00 price target on Sysco and gave the stock a “market perform” rating in a research note on Wednesday, January 28th. BMO Capital Markets reissued an “outperform” rating on shares of Sysco in a research note on Wednesday, January 28th. Barclays boosted their target price on Sysco from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. UBS Group lowered their price target on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Finally, Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.85.

Sysco Stock Down 0.7%

Shares of Sysco stock traded down $0.50 during midday trading on Tuesday, reaching $72.74. 1,894,036 shares of the company’s stock traded hands, compared to its average volume of 4,467,236. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30. Sysco has a 52 week low of $67.12 and a 52 week high of $91.85. The company’s 50 day simple moving average is $84.26 and its 200 day simple moving average is $79.20. The company has a market cap of $34.84 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.57 and a beta of 0.69.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $20.76 billion during the quarter, compared to analysts’ expectations of $20.80 billion. Sysco had a net margin of 2.17% and a return on equity of 109.21%. Sysco’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 earnings per share. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Equities analysts expect that Sysco will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Ronald L. Phillips sold 5,601 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the transaction, the executive vice president directly owned 35,965 shares in the company, valued at $2,913,165. The trade was a 13.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sheila Talton sold 2,801 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the completion of the sale, the director owned 12,868 shares in the company, valued at approximately $1,067,915.32. The trade was a 17.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SYY. Montag A & Associates Inc. increased its stake in Sysco by 1.4% during the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after acquiring an additional 123 shares during the period. United Community Bank grew its holdings in shares of Sysco by 11.4% during the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock worth $90,000 after purchasing an additional 125 shares in the last quarter. 1620 Investment Advisors Inc. increased its position in shares of Sysco by 2.6% during the third quarter. 1620 Investment Advisors Inc. now owns 4,904 shares of the company’s stock valued at $404,000 after purchasing an additional 126 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Sysco by 0.3% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 40,852 shares of the company’s stock worth $3,364,000 after purchasing an additional 130 shares during the period. Finally, Silver Oak Securities Incorporated boosted its stake in Sysco by 4.0% during the third quarter. Silver Oak Securities Incorporated now owns 3,493 shares of the company’s stock worth $288,000 after buying an additional 134 shares in the last quarter. 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.