Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The company distributes frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce. It also supplies various non-food items, including paper products comprising disposable napkins, plates, and cups; tableware consisting of China and silverware; cookware, which include pots, pans, and utensils; restaurant and kitchen equipment and supplies; and cleaning supplies. The company serves restaurants, hospitals and nursing homes, schools and colleges, hotels and motels, industrial caterers, and other foodservice venues. As of June 27, 2020, it operated 326 distribution facilities. Sysco Corporation was founded in 1969 and is headquartered in Houston, Texas.
IPO Year:
Exchange: NYSE
Website: sysco.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/28/2024 | $85.00 | Neutral → Buy | Guggenheim |
| 11/21/2023 | $73.00 | Neutral | Piper Sandler |
| 10/19/2023 | $75.00 | Buy | Deutsche Bank |
| 3/9/2023 | $90.00 | Buy | BofA Securities |
| 2/2/2023 | Buy → Hold | Argus | |
| 9/23/2022 | $90.00 | Overweight | Stephens |
| 5/26/2022 | $98.00 | Neutral → Overweight | JP Morgan |
| 3/11/2022 | Neutral | CL King | |
| 2/22/2022 | $95.00 | Hold → Buy | Argus Research |
| 2/9/2022 | $85.00 → $86.00 | Equal-Weight | Morgan Stanley |
HOUSTON, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) ("Sysco" or the "company") today announced financial results for its 13-week first fiscal quarter ended September 28, 2024. Key financial results for the first quarter of fiscal year 2025 include the following (comparisons are to the same period in fiscal year 2024): Sales increased 4.4%; U.S. Foodservice volume increased 2.7%;Gross profit increased 2.9% to $3.8 billion;Operating income increased 0.5% to $808 million, and adjusted operating income increased 2.2% to $873 million1;EBITDA increased 3.4% to $1.0 billion, and adjusted EBITDA increased 4.4% to $1.1 billion1,2; andEPS3 remained flat at $0.99, compared t
KANSAS CITY, Mo., Oct. 15, 2024 (GLOBE NEWSWIRE) -- SYGMA Kansas City is pleased that our warehouse colleagues—represented by the International Brotherhood of Teamsters Local 955—have ratified a new collective bargaining agreement, ending the strike that began just 24 hours ago. We urge the Teamsters to always resolve issues at the negotiating table so we can avoid situations like this which are disruptive to our colleagues, their families, our communities, and our customers. "From the beginning, we had offered substantial and generous wage increases, including additional benefits our colleagues had requested," said Jon Ratnasamy, president of SYGMA. "Our commitment to good-faith neg
HOUSTON, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the world's largest food distributor, announced the nationwide launch of 19 innovative, labor-saving concepts available exclusively for Sysco customers through the company's Cutting Edge Solutions platform. "At Sysco, we know how crucial it is for chefs to have the right tools at their disposal. That's why Sysco's culinary and merchandising teams have helped curate a selection of exclusive, new, chef-tested products designed to alleviate stress in the kitchen and revolutionize menus as our customers prepare for the busy season ahead," says Victoria Gutierrez, Sysco's Chief Merchandising Officer.
HOUSTON, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) will host a conference call and webcast to discuss its first quarter fiscal year 2025 financial results at 10 a.m. EDT on Tuesday, Oct. 29, 2024. All interested parties are invited to listen online at investors.sysco.com. Prior to the conference call and webcast, the company will also issue a news release and post a slide presentation in the investor relations section of its website. A replay of the webcast will be available online shortly after the live webcast is completed. For purposes of public disclosure, including this and future similar events, Sysco uses the investor relations section of its website, found at
VICTORIA, British Columbia, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the world's largest food distributor, celebrated the arrival of 8 heavy-duty electric tractors to their fleet in Victoria, which serves over 1,500 customers including restaurants, healthcare and education customers. In total, Sysco now has over 130 heavy-duty electric tractors globally across the United States, Canada, United Kingdom and Sweden. "We are excited to scale our electric truck fleet into Canada and continue our journey to meet our climate goal of reducing emissions across the enterprise. One component of our climate goal is electrifying a portion of our fleet, and our partnershi
HOUSTON, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the world's largest food distributor, announced its winners from the company's inaugural One Planet. One Table. packaging (pack-a-thon) contest. Over 40 U.S. suppliers and packaging producers submitted innovative, environmentally friendly solutions to reduce plastics and packaging waste. Sysco's panel of judges invited the top seven proposals to a pitch competition at the end of June, narrowing the field to three winners: Winners: Cargill's More Sustainable Beef Packaging – Shrink bags that are designed to biodegrade in landfill and are made with recycled content.Superior Foods International Bio Bag for Froz
HOUSTON, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the world's largest food distributor, announced that the International Foodservice Distribution Association (IFDA) named 23 of Sysco's Delivery Partners to its prestigious 2024 Truck Driver Hall of Fame. The IFDA Truck Driver Hall of Fame program recognizes the foodservice industry's top drivers for their outstanding records of service and safety. For those selected, being inducted is a lifetime honor. "We're incredibly proud of our Sysco Delivery Partners who have dedicated their careers to safely delivering food and products to our customers," said Daniel Purefoy, Sysco's Chief Supply Chain Officer. "They h
HOUSTON, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY), the world's largest food distributor, today announced its comprehensive plan to support the Food Traceability Rule, issued by the U.S. Food and Drug Administration (FDA) under the Food Safety Modernization Act (FSMA). The new Food Traceability Rule mandates establishing a traceability recordkeeping system for certain foods to facilitate faster identification and rapid removal of potentially harmful products from the market. Effective summer of 2024, Sysco will begin to implement advanced traceability measures to ensure its food products' safety, quality and transparency from farm to table. "Sysco is dedicated to lea
HOUSTON, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that the Company will webcast its presentation from the Barclays 17th Annual Global Consumer Staples Conference on Wednesday, Sept. 4, at 1:30 p.m. ET. Additionally, the Company will also webcast its presentation at the Wells Fargo 7th Annual Consumer Conference on Wednesday, Sept. 18, at 8:00 a.m. PST. The live webcast for each of these events can be accessed at investors.sysco.com. An archived replay of the webcasts will be available shortly after the live events are completed. For purposes of public disclosure, including these and future similar events, Sysco uses the investor relations portion of
HOUSTON, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY), the world's largest food distributor, announced today that Roberto Marques will join Sysco's Board of Directors effective August 15, 2024. Kevin Hourican, Sysco's chair of the board and CEO, said, "We are very pleased to welcome Roberto to our board. Sysco's board and management team will benefit from Roberto's extensive experience in global, consumer-focused businesses. Roberto has worked in a number of consumer sectors, including healthcare, food, and beauty. His range of business experience, especially his international skill set, will be invaluable to Sysco as we continue to advance our Recipe For Growth strategy
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Tapestry, Inc. (NYSE:TPR), a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, today announced that Kevin Hourican, President and Chief Executive Officer of Sysco Corporation (NYSE:SYY), and David Elkins, Executive Vice President and Chief Financial Officer of Bristol Myers Squibb (NYSE:BMY), have been appointed to the Company's Board of Directors. The appointments of Mr. Hourican and Mr. Elkins to the Board bring the membership to eleven, including ten independent directors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240229220934/en/Kevin Hourican (Photo: Business Wire) J
NEW YORK and PALM BEACH, Fla., Dec. 14, 2023 (GLOBE NEWSWIRE) -- Trian Fund Management, L.P. (together with its affiliates, "Trian", "our" or "we"), which beneficially owns $3 billion of common stock in The Walt Disney Company (NYSE:DIS) ("Disney" or the "Company"), today submitted a notice of its intention to nominate two independent director candidates for election to the Disney Board of Directors (the "Board") at the Company's 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting"). Disney is one of the most iconic companies in the world with unrivaled scale, unparalleled customer loyalty, irreplaceable intellectual property ("IP"), and an enviable commercial flywheel. However,
HOUSTON, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY), the leading global foodservice distribution company, launched its One Planet. One Table. assortment, the foodservice industry's largest offering of certified and sustainably focused products. The Sysco One Planet. One Table. assortment includes over 3,000 items across 15 categories that are: Backed by one of 20+ leading sustainability certifications and standards, Included in Sysco's sustainability commitments for seafood or fresh produce, or Plant-based alternative proteins. "At Sysco, we're taking action to protect the health of our one and only planet. We have a growing market of customers looking for mo
DALLAS--(BUSINESS WIRE)--Suffolk, one of the most innovative and successful builders and real estate enterprises in the country, announced the hiring of John B. Hood as Vice President for Dallas. Mr. Hood will be responsible for developing and supporting strategies to expand Suffolk’s network, broaden its brand reach and presence, and build client relationships in the Dallas and North Texas regions. “We are thrilled to welcome John to our Suffolk team,” said Mark Penny, General Manager of Suffolk Dallas. “His diverse experience as an owner, designer and general contractor allows him to foster collaborative industry relationships and brings a unique perspective to our efforts and
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HOUSTON, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) ("Sysco" or the "company") today announced financial results for its 13-week first fiscal quarter ended September 28, 2024. Key financial results for the first quarter of fiscal year 2025 include the following (comparisons are to the same period in fiscal year 2024): Sales increased 4.4%; U.S. Foodservice volume increased 2.7%;Gross profit increased 2.9% to $3.8 billion;Operating income increased 0.5% to $808 million, and adjusted operating income increased 2.2% to $873 million1;EBITDA increased 3.4% to $1.0 billion, and adjusted EBITDA increased 4.4% to $1.1 billion1,2; andEPS3 remained flat at $0.99, compared t
HOUSTON, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) will host a conference call and webcast to discuss its first quarter fiscal year 2025 financial results at 10 a.m. EDT on Tuesday, Oct. 29, 2024. All interested parties are invited to listen online at investors.sysco.com. Prior to the conference call and webcast, the company will also issue a news release and post a slide presentation in the investor relations section of its website. A replay of the webcast will be available online shortly after the live webcast is completed. For purposes of public disclosure, including this and future similar events, Sysco uses the investor relations section of its website, found at
HOUSTON, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.51 per share, payable on October 25, 2024, to common stockholders of record at the close of business on October 4, 2024. About Sysco Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 76,000 colleagues, the company operates 340 distribution facili
HOUSTON, July 30, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) ("Sysco" or the "company") today announced financial results for its 13-week fourth fiscal quarter and its fiscal year ended June 29, 2024. Key financial results for the fourth quarter of fiscal year 2024 include the following (comparisons are to the same period in fiscal year 2023): Sales increased 4.2%; U.S. Foodservice volume increased 3.5%; U.S. local volumes grew 0.7%;Gross profit increased 4.2% to $3.8 billion;Operating income increased 1.2% to $977 million, and adjusted operating income increased 6.4% to $1.1 billion1;EBITDA decreased 7.7% to $1.2 billion, and adjusted EBITDA increased 5.4% to $1.3 billion1,2;
HOUSTON, July 09, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) will host a conference call and webcast to discuss its fourth quarter and fiscal year 2024 financial results at 10 a.m. EDT on Tuesday, July 30, 2024. All interested parties are invited to listen online at investors.sysco.com. Prior to the conference call and webcast, the company will also issue a news release and post a slide presentation in the investor relations section of its website. A replay of the webcast will be available online shortly after the live webcast is completed. For purposes of public disclosure, including this and future similar events, Sysco uses the investor relations section of its website, fou
HOUSTON, May 22, 2024 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the world's largest foodservice distributor, hosted its 2024 Investor Day at the New York Stock Exchange (NYSE) to present an update on the company's growth strategy and highlight initiatives that improve how the company serves its customers while delivering consistent financial performance. Kevin Hourican, Sysco's Chair of the Board and CEO, and other senior executives discussed how the company is driving core business performance through local case growth, and leveraging the scale of its merchandising and supply chain capabilities. In addition, Sysco shared the evolution of the company's ‘Recipe for Growth' s
HOUSTON, April 30, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) ("Sysco" or the "company") today announced financial results for its 13-week third fiscal quarter ended March 30, 2024. Key financial results for the third quarter of fiscal year 2024 include the following (comparisons are to the same period in fiscal year 2023): Sales increased 2.7%; U.S. Foodservice volume increased 2.9%; U.S. local volumes grew 0.4%;Gross profit increased 5.2% to $3.6 billion;Operating income increased 3.8% to $722.0 million, and adjusted1 operating income increased 8.4% to $799.3 million;EBITDA increased 5.4% to $933.0 million, and adjusted EBITDA increased 8.5% to $976.6 million2;EPS3 increased
HOUSTON, April 25, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that the Board of Directors has approved a $0.01 increase in the quarterly cash dividend to $0.51 per share from the current $0.50 per share. The new dividend is payable for the first time on July 26, 2024, to common stockholders of record at the close of business on July 5, 2024. "The Board's decision today to increase the dividend underscores Sysco's commitment to shareholder returns and maintaining our status as a Dividend Aristocrat. Our decision today further rewards our shareholders with a planned annual dividend increase of $0.04 for fiscal year 2025," said Kenny Cheung, Sysco's executive vice
HOUSTON, April 09, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) will host a conference call and webcast to discuss its third quarter fiscal year 2024 financial results at 10 a.m. EDT on Tuesday, April 30, 2024. All interested parties are invited to listen online at investors.sysco.com. Prior to the conference call and webcast, the company will also issue a news release and post a slide presentation in the investor relations section of its website. A replay of the webcast will be available online shortly after the live webcast is completed. For purposes of public disclosure, including this and future similar events, Sysco uses the investor relations section of its website
HOUSTON, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.50 per share, payable on April 26, 2024, to common stockholders of record at the close of business on April 5, 2024. About Sysco Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 72,000 colleagues, the company operates 334 distribution facilities
Guggenheim upgraded Sysco from Neutral to Buy and set a new price target of $85.00
Piper Sandler resumed coverage of Sysco with a rating of Neutral and set a new price target of $73.00
Deutsche Bank initiated coverage of Sysco with a rating of Buy and set a new price target of $75.00
BofA Securities resumed coverage of Sysco with a rating of Buy and set a new price target of $90.00
Argus downgraded Sysco from Buy to Hold
Stephens initiated coverage of Sysco with a rating of Overweight and set a new price target of $90.00
JP Morgan upgraded Sysco from Neutral to Overweight and set a new price target of $98.00
CL King initiated coverage of Sysco with a rating of Neutral
Argus Research upgraded Sysco from Hold to Buy and set a new price target of $95.00
Morgan Stanley reiterated coverage of Sysco with a rating of Equal-Weight and set a new price target of $86.00 from $85.00 previously
B of A Securities analyst Kendall Toscano maintains Sysco (NYSE:SYY) with a Buy and lowers the price target from $91 to $87.
11 analysts have expressed a variety of opinions on Sysco (NYSE:SYY) over the past quarter, offering a diverse set of opinions from bullish to bearish. The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 5 3 3 0 0 Last 30D 0 0 1 0 0 1M Ago 1 0 0 0 0 2M Ago 2 3 1 0 0 3M Ago 2 0 1 0 0 In the assessment of 12-month price targets, analysts unveil insights for Sysco, presenting an average target of $84.27, a high estimate of $87.00, and a low estimate of $79.00. A 3.58% drop is evident in the current ave
Morgan Stanley analyst John Glass maintains Sysco (NYSE:SYY) with a Equal-Weight and lowers the price target from $82 to $81.
Providing a diverse range of perspectives from bullish to bearish, 10 analysts have published ratings on Sysco (NYSE:SYY) in the last three months. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 5 3 2 0 0 Last 30D 1 0 0 0 0 1M Ago 1 0 0 0 0 2M Ago 3 3 2 0 0 3M Ago 0 0 0 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $84.6, along with a high estimate of $87.00 and a low estimate of $79.00. A decline of 3.86%
Truist Securities analyst Jake Bartlett maintains Sysco (NYSE:SYY) with a Buy and lowers the price target from $87 to $85.
Sysco's (NYSE:SYY) short percent of float has risen 17.33% since its last report. The company recently reported that it has 8.74 million shares sold short, which is 1.76% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.34 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is impor
On CNBC's “Halftime Report Final Trades,” Brenda Vingiello of Sand Hill Global Advisors named The TJX Companies, Inc. (NYSE:TJX) as her final trade. On May 22, TJX Companies reported better-than-expected first-quarter financial results. The Framingham, Massachusetts-based company reported first-quarter FY25 sales growth of 5.9% year-on-year to $12.479 billion, beating the analyst consensus estimate of $12.463 billion. Overall comp store sales increased 3%. EPS of 93 cents beat the consensus estimate of 87 cents. Jim Lebenthal of Cerity Partners picked AbbVie Inc. (NYSE:ABBV), another contrarian play. On May 31, AbbVie said it received positive CHMP opinion for risankizumab (SKYR
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U.S. stocks settled mostly higher on Friday, with the Nasdaq index settling at a fresh record high during the session. The tech-heavy Nasdaq also outperformed last week recording a gain of 1.41%. However, the Dow Jones index declined 2.33% last week, recording its first negative week in five. Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst’s opinion to trust. Benzinga’s Analyst Ratings API is a collection of the high
Guggenheim analyst John Heinbockel upgrades Sysco (NYSE:SYY) from Neutral to Buy and announces $85 price target.