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

Sysco Corporation (NYSE:SYY) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $87.35 and last traded at $86.52, with a volume of 3888630 shares changing hands. The stock had previously closed at $86.53.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on Sysco from $80.00 to $83.00 and gave the stock a “neutral” rating 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 research report on Wednesday, January 28th. Citigroup boosted their price objective on Sysco from $81.00 to $88.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, UBS Group lifted their target price 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 research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $89.38.

Sysco Price Performance

The firm has a market capitalization of $41.44 billion, a P/E ratio of 23.26, a PEG ratio of 2.69 and a beta of 0.61. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 5.45. The business’s 50-day simple moving average is $76.71 and its 200 day simple moving average is $78.15.

Sysco (NYSE:SYY) last released its 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. The company had revenue of $20.76 billion for the quarter, compared to analyst estimates of $20.80 billion. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 EPS. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Sell-side analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, January 2nd. Sysco’s payout ratio is 58.06%.

Insider Activity

In other news, EVP Ronald L. Phillips sold 5,601 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the sale, the executive vice president owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sheila Talton sold 2,801 shares of Sysco stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the completion of the transaction, the director directly owned 12,868 shares in the company, valued at approximately $1,067,915.32. The trade was a 17.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Sysco

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Sysco by 2.0% in the second quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after acquiring an additional 1,226,381 shares during the period. State Street Corp grew its stake in shares of Sysco by 0.9% in the third quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after purchasing an additional 246,542 shares during the last quarter. Capital Research Global Investors increased its holdings in Sysco by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock valued at $1,511,821,000 after purchasing an additional 46,040 shares during the period. Geode Capital Management LLC lifted its holdings in Sysco by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after buying an additional 131,659 shares during the period. Finally, Norges Bank bought a new stake in shares of Sysco in the 2nd quarter worth approximately $493,686,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

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.