Sysco (NYSE:SYY) Hits New 52-Week High - Here's Why

Key Points

• Sysco Corporation's stock has reached a new 52-week high of $83.24, with a last traded price of $82.67 on significant trading volume.
• The company reported quarterly earnings of $1.48 per share, surpassing estimates and experiencing a 2.8% year-over-year revenue increase, bringing revenue to $21.14 billion.
• Sysco announced a quarterly dividend of $0.54, providing an annualized yield of 2.6%, with the ex-dividend date set for October 3rd.

Sysco Corporation (NYSE:SYY - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $83.24 and last traded at $82.67, with a volume of 1362968 shares changing hands. The stock had previously closed at $81.93.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Citigroup began coverage on shares of Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target on the stock. Barclays increased their target price on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Morgan Stanley increased their price target on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Price Performance

The firm has a market capitalization of $40.06 billion, a PE ratio of 22.15, a P/E/G ratio of 2.55 and a beta of 0.80. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The company has a 50-day moving average price of $80.07 and a 200-day moving average price of $75.52.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The firm had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same period in the previous year, the company earned $1.39 earnings per share. Sysco's quarterly revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. Sysco's dividend payout ratio (DPR) is currently 57.91%.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the sale, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 961 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the transaction, the executive vice president directly owned 41,501 shares of the company's stock, valued at $3,361,581. This represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock valued at $7,439,331 in the last three months. Company insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH boosted its position in shares of Sysco by 106.4% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock worth $236,000 after purchasing an additional 1,622 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Sysco by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock valued at $16,772,000 after acquiring an additional 4,932 shares during the period. WBI Investments LLC increased its position in shares of Sysco by 41.7% during the first quarter. WBI Investments LLC now owns 10,914 shares of the company's stock valued at $819,000 after buying an additional 3,211 shares during the period. Gallacher Capital Management LLC bought a new stake in Sysco during the 2nd quarter worth approximately $730,000. Finally, Goldman Sachs Group Inc. increased its stake in Sysco by 21.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,121,188 shares of the company's stock valued at $234,214,000 after acquiring an additional 544,244 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

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