Ronald Phillips Sells 506 Shares of Sysco (NYSE:SYY) Stock

Sysco Corporation (NYSE:SYY) EVP Ronald Phillips sold 506 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.09, for a total value of $42,549.54. Following the transaction, the executive vice president directly owned 36,313 shares in the company, valued at $3,053,560.17. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 Stock Down 0.2%

SYY opened at $83.28 on Thursday. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. 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 business’s 50-day moving average price is $82.91 and its 200-day moving average price is $80.61. The company has a market cap of $39.90 billion, a P/E ratio of 22.75, a P/E/G ratio of 2.85 and a beta of 0.64.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The company had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the prior year, the business posted $1.48 EPS. Sysco’s quarterly revenue was up 4.7% compared to the same quarter last year. 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 expect that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be issued a $0.55 dividend. The ex-dividend date is Friday, October 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.6%. Sysco’s dividend payout ratio (DPR) is currently 60.11%.

Institutional Investors Weigh In On Sysco

A number of large investors have recently modified their holdings of SYY. California State Teachers Retirement System increased its position in shares of Sysco by 10,045.8% during the second quarter. California State Teachers Retirement System now owns 63,555,151 shares of the company’s stock valued at $5,311,940,000 after acquiring an additional 62,928,735 shares in the last quarter. BlackRock Inc. bought a new position in Sysco in the 2nd quarter valued at approximately $3,596,356,000. Norges Bank purchased a new stake in Sysco during the 4th quarter valued at $542,780,000. Bank of America Corp DE bought a new stake in shares of Sysco in the 2nd quarter worth $482,589,000. Finally, Wellington Management Group LLP raised its stake in shares of Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after purchasing an additional 4,595,819 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on SYY shares. Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Citigroup boosted their price objective on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Morgan Stanley upped their price objective on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. UBS Group raised their target price on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Sanford C. Bernstein reduced their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Sysco Company Profile

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.