Sysco (NYSE:SYY) EVP Sells 7,350 Shares of Stock

Sysco Corporation (NYSE:SYY) EVP Ronald Phillips sold 7,350 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,231,526.50. The trade was a 15.98% decrease in their position. The sale was disclosed in a document filed 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 Trading Down 0.4%

SYY traded down $0.36 on Tuesday, reaching $83.50. 1,670,326 shares of the company’s stock were exchanged, compared to its average volume of 4,086,522. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The company’s 50 day moving average is $82.74 and its 200-day moving average is $80.62. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The company has a market cap of $39.98 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.87 and a beta of 0.64.

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

Sysco Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on SYY. Sanford C. Bernstein cut 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. Deutsche Bank Aktiengesellschaft lowered Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research note on Tuesday, April 28th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings raised Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Finally, Barclays decreased their price target on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.50.

Institutional Trading of Sysco

Several hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in shares of Sysco by 10,045.8% during the 2nd 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. acquired a new position in Sysco in the second quarter worth $3,596,356,000. Norges Bank acquired a new position in Sysco in the fourth quarter worth $542,780,000. Bank of America Corp DE bought a new stake in Sysco during the second quarter valued at $482,589,000. Finally, Wellington Management Group LLP raised its holdings in shares of Sysco by 3,977.1% during 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 period. 83.41% of the stock is owned by institutional investors.

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.