Sysco (NYSE:SYY) EVP Ronald Phillips Sells 6,285 Shares

Sysco Corporation (NYSE:SYY) EVP Ronald Phillips sold 6,285 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $83.94, for a total value of $527,562.90. Following the completion of the sale, the executive vice president owned 39,970 shares of the company’s stock, valued at $3,355,081.80. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Up 0.6%

Shares of NYSE:SYY opened at $84.76 on Thursday. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The firm has a market capitalization of $40.58 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The business’s 50 day moving average price is $81.89 and its 200-day moving average price is $80.56.

Sysco (NYSE:SYY) last released its quarterly 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 firm had revenue of $22.12 billion for 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 firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $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 research analysts forecast that Sysco Corporation will post 5.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sysco

Several hedge funds and other institutional investors have recently modified their holdings of SYY. Vanguard Group Inc. raised its holdings in Sysco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after acquiring an additional 814,270 shares during the last quarter. BlackRock Inc. purchased a new position in Sysco in the 2nd quarter worth approximately $3,596,356,000. State Street Corp boosted its holdings in shares of Sysco by 0.9% during the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after purchasing an additional 246,542 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sysco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after purchasing an additional 131,659 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $542,780,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYY. Weiss Ratings reissued a “hold (c+)” rating on shares of Sysco in a research note on Friday, June 26th. Citigroup raised 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. Piper Sandler lifted their price objective on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Barclays reduced their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Hold” and an average 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.