Ronald Phillips Sells 506 Shares of Sysco (NYSE:SYY) Stock

Sysco Corporation (NYSE:SYY) EVP Ronald Phillips sold 506 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 36,313 shares of the company’s stock, valued at approximately $3,053,560.17. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 Price Performance

Sysco stock traded down $0.36 during mid-day trading on Tuesday, reaching $83.50. 1,670,326 shares of the company were exchanged, compared to its average volume of 4,086,522. The firm has a market cap of $39.98 billion, a PE ratio of 22.81, a PEG ratio of 2.87 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 company has a fifty day simple moving average of $82.74 and a 200-day simple moving average of $80.62. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping 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% on a year-over-year basis. During the same period 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. As a group, equities research analysts expect that Sysco Corporation will post 5.12 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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

Analyst Upgrades and Downgrades

SYY has been the subject of several research analyst reports. Barclays lowered their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Morgan Stanley upped their price objective on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Citigroup raised their price objective on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded 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. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Institutional Investors Weigh In On Sysco

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System grew its position in 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 worth $5,311,940,000 after acquiring an additional 62,928,735 shares during the last quarter. BlackRock Inc. bought a new position in Sysco in the second quarter valued at about $3,596,356,000. Norges Bank acquired a new stake in shares of Sysco during the fourth quarter valued at about $542,780,000. Bank of America Corp DE bought a new stake in shares of Sysco during the second quarter worth about $482,589,000. Finally, Wellington Management Group LLP increased its stake in shares of Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after buying an additional 4,595,819 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Company Profile

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.