Piper Sandler Downplays Sysco Corporation (SYY)'s $29.1B Deal for Restaurant Depot [Yahoo! Finance]
Sysco Corporation (SYY)
Last sysco corporation earnings: 2/3 08:00 am
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Source: Yahoo! Finance
Sysco Corporation (NYSE:SYY) but cut the price target to $77 from $83. The price target cut comes on the heels of the company announcing a $29.1 billion deal to acquire Restaurant Depot in a transaction the research firm is not a fan of. Piper Sandler Downplays Sysco Corporation (SYY)'s $29.1B Deal for Restaurant Depot Nejron Photo/Shutterstock.com Under the terms of the agreement, Restaurant Depot shareholders are to receive $21.6 billion in cash proceeds and $91.5 million in Sysco shares. Sysco plans to finance the transaction with $21 billion in new and hybrid debt and $1 billion in cash and equity. The acquisition is poised to expand Sysco's footprint into the $60- $70 billion Cash and Carry Channel segment of the $380 billion US foodservice market. Sysco expects the transaction to be mid- to high-single-digit EPS accretive in year one and low to mid-teens accretive in year two. In addition, Restaurant Depot is to operate as a separate business segment within Sysco once th
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SYY
News
- Sysco Declares Increase to Quarterly Dividend PaymentGlobeNewswire
- Jim Cramer Explains Why Sysco Stock Is “Such a Steal After the Sell-Off” [Yahoo! Finance]Yahoo! Finance
- Sysco (SYY) had its price target lowered by Piper Sandler from $83.00 to $77.00. They now have a "neutral" rating on the stock.MarketBeat
- Sysco to Announce Third Quarter Fiscal Year 2026 Financial Results on April 28GlobeNewswire
- Jim Cramer Says “For Sysco, the Jetro Acquisition's Superb” [Yahoo! Finance]Yahoo! Finance
SYY
Earnings
- 1/27/26 - Beat
SYY
Sec Filings
- 4/7/26 - Form 425
- 4/2/26 - Form 8-K
- 4/2/26 - Form 4
- SYY's page on the SEC website