Sysco (NYSE:SYY) Stock: Insider Thomas Gerard Ondrof Acquires 2,500 Shares

Sysco Corporation (NYSE:SYY) Director Thomas Gerard Ondrof purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was bought at an average cost of $76.62 per share, with a total value of $191,550.00. Following the acquisition, the director owned 2,500 shares of the company’s stock, valued at $191,550. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Sysco Trading Up 2.1%

Shares of SYY stock opened at $76.85 on Friday. 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 has a 50-day moving average of $79.89 and a 200 day moving average of $80.50. The stock has a market capitalization of $37.80 billion, a PE ratio of 20.44, a P/E/G ratio of 2.30 and a beta of 0.66. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.19. The business had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $22.02 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 EPS. As a group, sell-side analysts anticipate that Sysco Corporation will post 5.07 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, October 2nd. Sysco’s dividend payout ratio is 58.51%.

Institutional Trading of Sysco

A number of large investors have recently bought and sold shares of the business. N.E.W. Advisory Services LLC acquired a new stake in shares of Sysco in the second quarter valued at approximately $29,000. Salomon & Ludwin LLC grew its stake in Sysco by 718.6% during the third quarter. Salomon & Ludwin LLC now owns 352 shares of the company’s stock worth $27,000 after purchasing an additional 309 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 170 shares in the last quarter. Markowski Investments bought a new stake in Sysco in the 2nd quarter worth $31,000. Finally, Parvin Asset Management LLC bought a new position in shares of Sysco during the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYY. Morgan Stanley boosted their price objective on Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Piper Sandler raised their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Bank of America raised their price objective on Sysco from $91.00 to $93.00 and gave the company a “buy” rating in a report on Monday, July 20th. Weiss Ratings downgraded shares of Sysco from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, UBS Group lifted their price target on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.13.

Sysco News Roundup

Here are the key news stories impacting Sysco this week:

• Positive Sentiment: Director Thomas Gerard Ondrof purchased 2,500 shares at an average price of $76.62, a modest sign of insider confidence. Director stock purchase
• Neutral Sentiment: Citigroup lowered its price target from $87 to $84 and maintained a Hold/neutral rating. The target still implies potential upside from the cited share price, but the reduction reflects more restrained expectations. Citi rating
• Negative Sentiment: JPMorgan also lowered its expectations for SYY, adding to a cautious analyst tone. JPMorgan expectations
• Negative Sentiment: Sysco’s latest quarterly revenue of $21.74 billion fell short of analyst estimates, although earnings per share matched expectations at $1.19 and revenue grew 2.8% year over year. Recent trading and results context
• Negative Sentiment: The proposed $29.1 billion Jetro Restaurant Depot acquisition is still awaiting FTC clearance; regulatory and cost exposure has drawn investor scrutiny and could add uncertainty. Acquisition investigation notice

Sysco Company Profile

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries.

The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.

Sysco serves customers across the United States and in international markets, including Canada and parts of Europe.