Sysco (NYSE:SYY) EVP Ronald Phillips Sells 7,350 Shares

Sysco Corporation (NYSE:SYY) EVP Ronald Phillips sold 7,350 shares of Sysco stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the sale, the executive vice president directly owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. This trade represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sysco Trading Down 0.4%

NYSE SYY opened at $83.50 on Wednesday. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The business has a 50 day moving average price of $82.82 and a 200-day moving average price of $80.61. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The company has a market cap of $40.01 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 2.86 and a beta of 0.64.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. Sysco’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, equities analysts expect that Sysco Corporation will post 5.12 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco’s payout ratio is currently 60.11%.

Institutional Investors Weigh In On Sysco

A number of institutional investors have recently made changes to their positions in SYY. Nicholas Company Inc. purchased a new position in shares of Sysco during the fourth quarter valued at approximately $2,278,000. Norges Bank purchased a new stake in Sysco in the 4th quarter worth approximately $542,780,000. Banque Cantonale Vaudoise boosted its stake in shares of Sysco by 301.9% in the first quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock worth $1,200,000 after acquiring an additional 12,641 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Sysco during the fourth quarter worth about $52,672,000. Finally, Parnassus Investments LLC raised its stake in Sysco by 1.0% during the 4th quarter. Parnassus Investments LLC now owns 1,611,005 shares of the company’s stock valued at $118,715,000 after purchasing an additional 15,539 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SYY shares. UBS Group upped their price objective on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Sanford C. Bernstein reduced their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.