Insider Selling: Sysco (NYSE:SYY) EVP Sells $30,604.13 in Stock

Sysco Corporation (NYSE:SYY) EVP Ronald Phillips sold 367 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $83.39, for a total value of $30,604.13. Following the completion of the sale, the executive vice president directly owned 38,650 shares of the company’s stock, valued at $3,223,023.50. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Performance

NYSE SYY opened at $82.94 on Friday. The company has a market cap of $39.71 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.86 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 business’s 50 day moving average price is $82.21 and its 200-day moving average price is $80.62. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85.

Sysco (NYSE:SYY) last released its quarterly 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. The company had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.Sysco’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. Sell-side analysts predict that Sysco Corporation will post 5.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. Sanford C. Bernstein decreased their price objective on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Finally, Piper Sandler boosted their target price on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sysco presently has a consensus rating of “Hold” and a consensus target price of $89.50.

Hedge Funds Weigh In On Sysco

A number of hedge funds have recently added to or reduced their stakes in SYY. Vanguard Group Inc. raised its stake in shares of Sysco by 1.3% during the fourth 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 in the last quarter. BlackRock Inc. bought a new position in Sysco in the second quarter worth approximately $3,596,356,000. State Street Corp increased its holdings in 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 period. Geode Capital Management LLC increased its holdings in 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 period. Finally, Norges Bank bought a new stake in Sysco during the 4th quarter valued at $542,780,000. 83.41% of the stock is currently 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.