SYSCO (SYY) Hits New 1-Year High at $68.64

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SYSCO Co. (NYSE:SYY) reached a new 52-week high during trading on Wednesday . The stock traded as high as $68.64 and last traded at $68.50, with a volume of 37751 shares. The stock had previously closed at $68.51.

Several research firms have commented on SYY. ValuEngine raised SYSCO from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley reissued a “hold” rating and issued a $61.00 target price (down from $64.00) on shares of SYSCO in a report on Tuesday, May 8th. Pivotal Research set a $58.00 target price on SYSCO and gave the stock a “hold” rating in a report on Tuesday, May 8th. Citigroup boosted their target price on SYSCO from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, March 27th. Finally, Zacks Investment Research downgraded SYSCO from a “buy” rating to a “hold” rating in a report on Wednesday, March 14th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $67.10.

The firm has a market cap of $35.55 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 2.19 and a beta of 0.57. The company has a quick ratio of 0.90, a current ratio of 1.44 and a debt-to-equity ratio of 3.76.

SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $14.35 billion for the quarter, compared to the consensus estimate of $14.32 billion. SYSCO had a return on equity of 64.33% and a net margin of 2.23%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. equities analysts predict that SYSCO Co. will post 2.98 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Friday, July 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, July 5th. SYSCO’s payout ratio is currently 58.06%.

In other SYSCO news, Director Richard G. Tilghman sold 5,000 shares of the stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $60.62, for a total value of $303,100.00. Following the transaction, the director now owns 85,864 shares of the company’s stock, valued at $5,205,075.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Trian Fund Management, L.P. sold 2,278,939 shares of the stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $66.14, for a total value of $150,729,025.46. Following the completion of the transaction, the director now directly owns 4,657 shares in the company, valued at approximately $308,013.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,153,196 shares of company stock worth $208,353,443. Corporate insiders own 9.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC bought a new position in SYSCO in the first quarter valued at about $223,000. Chesapeake Wealth Management bought a new position in SYSCO in the first quarter valued at about $542,000. Suntrust Banks Inc. lifted its holdings in SYSCO by 66.5% in the first quarter. Suntrust Banks Inc. now owns 322,413 shares of the company’s stock valued at $19,330,000 after acquiring an additional 128,801 shares during the period. Amalgamated Bank lifted its holdings in SYSCO by 10.8% in the first quarter. Amalgamated Bank now owns 70,433 shares of the company’s stock valued at $4,223,000 after acquiring an additional 6,892 shares during the period. Finally, Summit Trail Advisors LLC lifted its holdings in SYSCO by 39.3% in the first quarter. Summit Trail Advisors LLC now owns 3,975 shares of the company’s stock valued at $248,000 after acquiring an additional 1,122 shares during the period. 79.87% of the stock is currently owned by institutional investors.

About SYSCO

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, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

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