Insider Selling: Sysco (NYSE:SYY) EVP Sells $614,533.50 in Stock

Sysco Corporation (NYSE:SYY) EVP Ronald Phillips sold 7,350 shares of the business’s stock in a transaction dated 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 owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. This represents a 15.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Price Performance

Shares of SYY opened at $82.35 on Friday. 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 50 day moving average price of $82.98 and a 200-day moving average price of $80.58. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The stock has a market capitalization of $39.46 billion, a PE ratio of 22.50, a PEG ratio of 2.84 and a beta of 0.64.

Sysco (NYSE:SYY) last issued its quarterly earnings data 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 company had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. Sysco’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $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. Equities analysts predict that Sysco Corporation will post 5.12 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco’s payout ratio is presently 60.11%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SYY. Nicholas Company Inc. purchased a new position in shares of Sysco in the fourth quarter worth $2,278,000. Norges Bank acquired a new stake in Sysco during the 4th quarter worth about $542,780,000. Banque Cantonale Vaudoise lifted its position in Sysco by 301.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock worth $1,200,000 after acquiring an additional 12,641 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in Sysco during the 4th quarter valued at about $52,672,000. Finally, Parnassus Investments LLC increased its holdings in shares of Sysco by 1.0% in the fourth quarter. Parnassus Investments LLC now owns 1,611,005 shares of the company’s stock valued at $118,715,000 after purchasing an additional 15,539 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Citigroup raised 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. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Finally, UBS Group raised their target price on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.