Sysco Corp (NYSE: SYY): Reassessing Prospects

Sysco Corp (SYY) concluded trading on Thursday at a closing price of $75.08, with 3.31 million shares of worth about $248.49 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 3.03% during that period and on November 21, 2024 the price saw a gain of about 1.97%. Currently the company’s common shares owned by public are about 491.76M shares, out of which, 489.99M shares are available for trading.

Stock saw a price change of 0.16% in past 5 days and over the past one month there was a price change of 0.60%. Year-to-date (YTD), SYY shares are showing a performance of 2.67% which increased to 5.30% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $69.03 but also hit the highest price of $82.89 during that period. The average intraday trading volume for Sysco Corp shares is 3.29 million. The stock is currently trading -0.63% below its 20-day simple moving average (SMA20), while that difference is down -0.82% for SMA50 and it goes to -1.19% lower than SMA200.

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Sysco Corp (NYSE: SYY) currently have 491.76M outstanding shares and institutions hold larger chunk of about 87.56% of that.

The stock has a current market capitalization of $36.88B and its 3Y-monthly beta is at 1.19. PE ratio of stock for trailing 12 months is 19.30, while it has posted earnings per share of $3.89 in the same period. Its PEG reads 2.58 and has Quick Ratio of 0.73 while making debt-to-equity ratio of 6.08. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SYY, volatility over the week remained 1.68% while standing at 1.90% over the month.

Stock’s fiscal year EPS is expected to rise by 5.93% while it is estimated to increase by 8.13% in next year. EPS is likely to grow at an annualized rate of 7.47% for next 5-years, compared to annual growth of 3.96% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Guggenheim on May 28, 2024 offering a Buy rating for the stock and assigned a target price of $85 to it. Coverage by Piper Sandler stated Sysco Corp (SYY) stock as a Neutral in their note to investors on November 21, 2023, suggesting a price target of $73 for the stock. On October 19, 2023, Deutsche Bank Initiated their recommendations, while on March 09, 2023, BofA Securities Resumed their ratings for the stock with a price target of $90. Stock get a Hold rating from Argus on February 02, 2023.

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