Sysco (NYSE:SYY) Sets New 1-Year High – Here’s Why

Shares of Sysco Corporation (NYSE:SYY) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $85.34 and last traded at $84.3250, with a volume of 156707 shares. The stock had previously closed at $84.62.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sysco in a research report on Wednesday, January 28th. Guggenheim lifted their price target on Sysco from $89.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Jefferies Financial Group raised their price objective on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $89.38.

Sysco Price Performance

The stock has a 50 day moving average of $75.95 and a two-hundred day moving average of $78.00. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30. The firm has a market capitalization of $40.40 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.57 and a beta of 0.61.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The company had revenue of $20.76 billion for the quarter, compared to the consensus estimate of $20.80 billion. During the same quarter last year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Friday, January 2nd were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. Sysco’s payout ratio is currently 58.06%.

Insider Activity

In other news, EVP Ronald L. Phillips sold 5,601 shares of Sysco stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total value of $453,681.00. Following the transaction, the executive vice president directly owned 35,965 shares in the company, valued at approximately $2,913,165. The trade was a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Jackson Grant Investment Advisers Inc. bought a new position in Sysco during the third quarter worth $25,000. Harbor Capital Advisors Inc. increased its holdings in shares of Sysco by 75.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock worth $26,000 after purchasing an additional 135 shares during the period. Torren Management LLC bought a new position in shares of Sysco during the 4th quarter worth about $27,000. Chung Wu Investment Group LLC bought a new stake in shares of Sysco in the second quarter valued at about $30,000. Finally, Peterson Wealth Services lifted its stake in shares of Sysco by 875.7% in the third quarter. Peterson Wealth Services now owns 361 shares of the company’s stock valued at $30,000 after buying an additional 324 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

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.