Sysco (NYSE:SYY) Reaches New 12-Month High at $79.98


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Sysco Co. (NYSE:SYY) hit a new 52-week high on Tuesday . The stock traded as high as $79.98 and last traded at $79.95, with a volume of 35034 shares trading hands. The stock had previously closed at $78.66.

Several equities analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of Sysco from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, December 16th. Zacks Investment Research cut shares of Sysco from a “hold” rating to a “sell” rating and set a $77.00 price target on the stock. in a research report on Wednesday, February 3rd. Credit Suisse Group lifted their target price on shares of Sysco from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 4th. BMO Capital Markets raised shares of Sysco from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $88.00 in a research report on Tuesday, November 10th. Finally, JPMorgan Chase & Co. cut shares of Sysco from an “overweight” rating to a “neutral” rating and set a $76.00 target price on the stock. in a research report on Monday, January 25th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Sysco has an average rating of “Hold” and an average price target of $77.56.

The firm has a market capitalization of $40.58 billion, a PE ratio of -1,123.55, a price-to-earnings-growth ratio of 3.79 and a beta of 1.38. The company has a debt-to-equity ratio of 9.56, a quick ratio of 1.30 and a current ratio of 1.73. The business’s 50 day moving average is $75.49 and its two-hundred day moving average is $68.43.

Sysco (NYSE:SYY) last released its quarterly earnings data on Monday, February 1st. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.17). Sysco had a negative net margin of 0.04% and a positive return on equity of 39.64%. The business had revenue of $11.56 billion during the quarter, compared to analysts’ expectations of $12.30 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The firm’s quarterly revenue was down 23.1% on a year-over-year basis. As a group, equities research analysts predict that Sysco Co. will post 1.83 EPS for the current year.

In other news, Director Nelson Peltz sold 550,000 shares of the business’s stock in a transaction on Wednesday, December 2nd. The shares were sold at an average price of $72.92, for a total transaction of $40,106,000.00. Following the completion of the transaction, the director now directly owns 4,840 shares in the company, valued at approximately $352,932.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 36,403 shares of the business’s stock in a transaction on Monday, December 7th. The shares were sold at an average price of $76.97, for a total transaction of $2,801,938.91. Following the transaction, the executive vice president now owns 74,806 shares of the company’s stock, valued at $5,757,817.82. The disclosure for this sale can be found here. Insiders have sold a total of 663,080 shares of company stock valued at $48,385,744 over the last 90 days. Company insiders own 5.17% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWA Asset Management Group LLC lifted its holdings in shares of Sysco by 14.5% during the 4th quarter. CWA Asset Management Group LLC now owns 47,724 shares of the company’s stock worth $3,544,000 after acquiring an additional 6,040 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Sysco by 31.3% during the 4th quarter. JPMorgan Chase & Co. now owns 13,829,373 shares of the company’s stock worth $1,026,969,000 after acquiring an additional 3,299,518 shares during the last quarter. Albion Financial Group UT bought a new stake in shares of Sysco during the 4th quarter worth $94,000. Verition Fund Management LLC bought a new stake in shares of Sysco during the 4th quarter worth $208,000. Finally, Intellectus Partners LLC lifted its holdings in shares of Sysco by 10.9% during the 4th quarter. Intellectus Partners LLC now owns 6,834 shares of the company’s stock worth $507,000 after acquiring an additional 672 shares during the last quarter. 81.02% of the stock is owned by institutional investors.

Sysco Company Profile (NYSE:SYY)

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.

Further Reading: Outstanding Shares

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