Sysco Corporation (SYY) is the global leader in food distributions for meals consumed outside the home. The company has a strong long-term history of growing earnings, and a rising stock price. Last week, the shares fell back after reporting disappointing fiscal second quarter earnings and lowering guidance for the remainder of the year.
However, earnings are moving in the right direction, as the company continues to recover from the pandemic, and 17X next year’s EPS estimates with a 2.5% dividend yield. The stock is attractively valued. Let’s buy, and I will have more details in tomorrow’s February issue.
Buy SYY under $80, my target is $92.