Sysco (NYSE:SYY) Sets New 12-Month High at $79.98
Sysco Co. (NYSE:SYY)’s share price hit a new 52-week high on Tuesday . The company traded as high as $79.98 and last traded at $79.95, with a volume of 35034 shares changing hands. The stock had previously closed at $78.66.
SYY has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Sysco from $69.00 to $76.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 19th. Credit Suisse Group increased their price objective on shares of Sysco from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, November 4th. Consumer Edge upgraded shares of Sysco from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 4th. Barclays increased their price target on shares of Sysco from $62.00 to $65.00 in a research report on Wednesday, December 2nd. Finally, Zacks Investment Research downgraded 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $77.56.
The stock’s 50 day moving average price is $75.49 and its 200-day moving average price is $68.43. The company has a quick ratio of 1.30, a current ratio of 1.73 and a debt-to-equity ratio of 9.56. The stock has a market capitalization of $40.58 billion, a PE ratio of -1,123.55, a PEG ratio of 3.79 and a beta of 1.38.
In other Sysco news, Director Nelson Peltz sold 550,000 shares of Sysco stock in a transaction on Wednesday, December 2nd. The shares were sold at an average price of $72.92, for a total value of $40,106,000.00. Following the completion of the transaction, the director now directly owns 4,840 shares of the company’s stock, valued at approximately $352,932.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 36,403 shares of Sysco stock in a transaction on Monday, December 7th. The stock was sold at an average price of $76.97, for a total transaction of $2,801,938.91. Following the completion of the transaction, the executive vice president now directly 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 663,080 shares of company stock valued at $48,385,744 over the last ninety days. 5.17% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Summitry LLC boosted its position in Sysco by 1.0% in the 4th quarter. Summitry LLC now owns 50,243 shares of the company’s stock valued at $3,731,000 after buying an additional 512 shares during the period. Allen Investment Management LLC boosted its position in Sysco by 12.1% in the 4th quarter. Allen Investment Management LLC now owns 2,505,105 shares of the company’s stock valued at $186,029,000 after buying an additional 270,101 shares during the period. Meyer Handelman Co. lifted its position in shares of Sysco by 1.9% in the 4th quarter. Meyer Handelman Co. now owns 574,368 shares of the company’s stock worth $42,653,000 after purchasing an additional 10,650 shares during the period. Waycross Partners LLC purchased a new stake in shares of Sysco in the 4th quarter worth approximately $2,693,000. Finally, Kestra Advisory Services LLC lifted its position in shares of Sysco by 3.6% in the 4th quarter. Kestra Advisory Services LLC now owns 93,763 shares of the company’s stock worth $6,872,000 after purchasing an additional 3,291 shares during the period. Hedge funds and other institutional investors own 81.02% of the company’s stock.
About Sysco (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.
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