Sysco (NYSE:SYY) Director Purchases $1,000,061.68 in Stock

Sysco Corporation (NYSE:SYY) Director John Hinshaw purchased 13,304 shares of the stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the transaction, the director owned 40,200 shares in the company, valued at approximately $3,021,834. The trade was a 49.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Sysco Trading Down 0.1%

SYY traded down $0.10 on Wednesday, hitting $75.23. The company had a trading volume of 2,979,444 shares, compared to its average volume of 4,523,720. The firm has a market cap of $35.97 billion, a P/E ratio of 20.84, a PEG ratio of 3.12 and a beta of 0.66. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The company’s fifty day moving average price is $75.65 and its 200 day moving average price is $78.10. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). The company had revenue of $20.52 billion during the quarter, compared to analysts’ expectations of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, equities analysts expect that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.9%. This is a boost from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. Sysco’s payout ratio is currently 59.83%.

Institutional Trading of Sysco

A number of large investors have recently made changes to their positions in the company. Ritter Alpha LP purchased a new stake in shares of Sysco during the first quarter worth approximately $340,000. Summitry LLC increased its stake in shares of Sysco by 9.1% during the first quarter. Summitry LLC now owns 9,747 shares of the company’s stock worth $695,000 after buying an additional 810 shares during the period. Groupama Asset Managment purchased a new stake in shares of Sysco during the first quarter worth approximately $613,000. FinArc Investments Inc. purchased a new stake in shares of Sysco during the first quarter worth approximately $2,442,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Sysco during the first quarter worth approximately $63,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Wells Fargo & Company boosted their price target on shares of Sysco from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Truist Financial boosted their price target on shares of Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Barclays cut their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Weiss Ratings lowered shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 30th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $88.15.

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.