Sysco Corporation (SYY) shares fell 11.70 percent, down $9.57 to $72.23 on Monday, after the company agreed to acquire Jetro Restaurant Depot in a transaction valued at approximately $29.1 billion. Under the agreement, Jetro shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares.
The stock is currently trading at $72.23, below its previous close of $81.80, after opening at $74.84 on the New York Stock Exchange. Shares traded in a range of $70.72 to $75.00 during the session, with volume reaching 7.30 million shares, above the average daily volume of 3.79 million.
Sysco added that it is pausing its share repurchase program to prioritize rapid de-leveraging following the acquisition, and will resume the program after making significant progress towards de-leveraging. The company also reaffirmed fiscal 2026 guidance, projecting sales growth of 3 percent to 5 percent and adjusted EPS at the high end of $4.50 to $4.60.
Sysco's 52-week range is $67.12 to $91.85.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.