Sysco (NYSE:SYY) Sets New 52-Week High – Still a Buy?

Sysco Corporation (NYSE:SYY) shares hit 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 changing hands. The stock had previously closed at $84.62.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price target on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Truist Financial upped their target price on Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Sysco in a research report on Wednesday, January 28th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Sanford C. Bernstein set a $90.00 target price on Sysco and gave the company a “market perform” rating in a research note on Wednesday, January 28th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.38.

Sysco Stock Down 0.3%

The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45. The firm has a market capitalization of $40.40 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 2.57 and a beta of 0.61. The stock has a fifty day moving average of $75.95 and a 200-day moving average of $78.00.

Sysco (NYSE:SYY) last announced 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. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The business had revenue of $20.76 billion during the quarter, compared to the consensus estimate of $20.80 billion. During the same period in the prior year, the business posted $0.93 earnings per share. Sysco’s revenue was up 3.0% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. As a group, sell-side analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

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

Insider Activity at Sysco

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

Institutional Trading of Sysco

A number of hedge funds have recently modified their holdings of SYY. Jackson Grant Investment Advisers Inc. acquired a new position in Sysco during the third quarter valued at $25,000. Harbor Capital Advisors Inc. grew its stake in Sysco by 75.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Torren Management LLC purchased a new position in Sysco during the 4th quarter valued at about $27,000. Chung Wu Investment Group LLC purchased a new stake in shares of Sysco in the second quarter worth approximately $30,000. Finally, Peterson Wealth Services boosted its holdings in shares of Sysco by 875.7% during the third quarter. Peterson Wealth Services now owns 361 shares of the company’s stock worth $30,000 after purchasing an additional 324 shares during the period. 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.