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

Sysco Corporation (NYSE:SYY) EVP Ronald Phillips sold 7,350 shares of Sysco stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the sale, the executive vice president directly owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 0.2%

Sysco stock opened at $83.28 on Thursday. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The company’s fifty day moving average price is $82.91 and its two-hundred day moving average price is $80.61. 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 market capitalization of $39.90 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.85 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, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 earnings per share. 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, analysts forecast that Sysco Corporation will post 5.12 earnings per share for the current fiscal year.

Sysco Announces Dividend

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

Institutional Investors Weigh In On Sysco

Several hedge funds have recently modified their holdings of SYY. Montag A & Associates Inc. boosted its holdings in shares of Sysco by 1.4% in the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock worth $644,000 after buying an additional 123 shares during the period. United Community Bank grew its holdings in shares of Sysco by 11.4% during the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after acquiring an additional 125 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in Sysco by 1.2% in the 4th quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock worth $827,000 after purchasing an additional 138 shares during the last quarter. Diversify Wealth Management LLC increased its holdings in Sysco by 1.6% in the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock worth $698,000 after buying an additional 143 shares during the last quarter. Finally, Arax Advisory Partners increased its stake in shares of Sysco by 2.4% during the 4th quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock worth $458,000 after purchasing an additional 145 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Sanford C. Bernstein dropped their target price on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Finally, Citigroup upped their price target on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

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.