Sysco (NYSE:SYY) EVP Ronald Phillips Sells 506 Shares

Sysco Corporation (NYSE:SYY) EVP Ronald Phillips sold 506 shares of Sysco stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.09, for a total transaction of $42,549.54. Following the transaction, the executive vice president directly owned 36,313 shares of the company’s stock, valued at $3,053,560.17. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Price Performance

Shares of Sysco stock opened at $83.50 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The stock has a market capitalization 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 Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The firm’s 50-day moving average price is $82.82 and its two-hundred day moving average price is $80.61.

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

Sysco Dividend Announcement

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

Hedge Funds Weigh In On Sysco

Several hedge funds have recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. acquired a new position in Sysco during the 4th quarter valued at about $25,000. Motiv8 Investments LLC acquired a new stake in shares of Sysco during the 4th quarter worth approximately $25,000. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco during the second quarter worth approximately $29,000. Sunbelt Securities Inc. raised its stake in shares of Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after buying an additional 170 shares during the last quarter. Finally, Bard Associates Inc. acquired a new position in Sysco in the fourth quarter valued at approximately $27,000. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group lifted their price target on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research report on Tuesday, April 28th. Morgan Stanley boosted their target price on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Piper Sandler upped their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Citigroup increased their price target on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.