Insider Selling: Sysco (NYSE:SYY) EVP Sells $42,549.54 in Stock

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 value of $42,549.54. Following the completion of the transaction, the executive vice president owned 36,313 shares in the company, valued at approximately $3,053,560.17. This represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 1.1%

Shares of NYSE:SYY opened at $82.35 on Friday. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a market capitalization of $39.46 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. 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 fifty day moving average of $82.98 and a 200-day moving average of $80.58.

Sysco (NYSE:SYY) last announced 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 firm 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%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company 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. On average, equities analysts predict that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Dividend Announcement

The company 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 $0.55 dividend. The ex-dividend date is Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.7%. Sysco’s payout ratio is presently 60.11%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. UBS Group upped their target price on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler raised their target price on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Citigroup boosted their price target on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.50.

Institutional Investors Weigh In On Sysco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi lifted its position in shares of Sysco by 0.8% during the 2nd quarter. Amundi now owns 2,362,688 shares of the company’s stock worth $197,473,000 after buying an additional 18,391 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Sysco during the second quarter valued at approximately $70,073,000. 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 during the last quarter. Studio Investment Management LLC lifted its holdings in Sysco by 8.2% during the second quarter. Studio Investment Management LLC now owns 11,932 shares of the company’s stock worth $997,000 after acquiring an additional 905 shares during the period. Finally, Wedmont Private Capital boosted its position in Sysco by 10.7% in the second quarter. Wedmont Private Capital now owns 7,868 shares of the company’s stock worth $660,000 after purchasing an additional 758 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

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.