SYSCO (NYSE:SYY) Sets New 12-Month High at $81.95

SYSCO Co. (NYSE:SYY) shares hit a new 52-week high on Wednesday . The stock traded as high as $81.95 and last traded at $81.92, with a volume of 103919 shares trading hands. The stock had previously closed at $81.92.

Several brokerages recently weighed in on SYY. Bank of America raised their price objective on shares of SYSCO from $76.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Credit Suisse Group raised their price objective on shares of SYSCO from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Wells Fargo & Co reaffirmed a “buy” rating on shares of SYSCO in a research report on Monday, August 12th. Loop Capital raised their price objective on shares of SYSCO to $86.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets raised their price objective on shares of SYSCO to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $76.80.

The company has a market cap of $41.10 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 2.25 and a beta of 0.47. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 3.74. The stock’s 50-day moving average price is $80.11 and its 200 day moving average price is $75.19.

SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, November 4th. The company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.01. SYSCO had a net margin of 2.82% and a return on equity of 79.60%. The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.53 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Analysts expect that SYSCO Co. will post 3.82 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.20%. This is a positive change from SYSCO’s previous quarterly dividend of $0.39. SYSCO’s payout ratio is 43.94%.

In related news, Director John M. Cassaday sold 20,203 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $77.23, for a total transaction of $1,560,277.69. Following the transaction, the director now owns 52,785 shares of the company’s stock, valued at $4,076,585.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert S. Charlton sold 28,948 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $80.43, for a total transaction of $2,328,287.64. Following the transaction, the executive vice president now directly owns 46,087 shares in the company, valued at approximately $3,706,777.41. The disclosure for this sale can be found here. Insiders have sold 201,225 shares of company stock worth $15,952,778 in the last ninety days. 5.24% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SYY. Krane Funds Advisors LLC acquired a new stake in SYSCO during the second quarter worth $25,000. SRS Capital Advisors Inc. acquired a new stake in SYSCO during the second quarter worth $28,000. Coastal Capital Group Inc. acquired a new stake in SYSCO during the second quarter worth $29,000. Neo Ivy Capital Management acquired a new stake in SYSCO during the second quarter worth $32,000. Finally, Usca Ria LLC acquired a new stake in SYSCO during the third quarter worth $35,000. Hedge funds and other institutional investors own 78.79% 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. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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