Sysco (NYSE:SYY) EVP Sells $79,680.00 in Stock

Sysco Corporation (NYSE:SYY) EVP Ronald Phillips sold 960 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $83.00, for a total transaction of $79,680.00. Following the completion of the sale, the executive vice president directly owned 49,852 shares of the company’s stock, valued at approximately $4,137,716. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Stock Up 0.6%

SYY stock opened at $79.19 on Friday. The firm has a market cap of $37.98 billion, a PE ratio of 21.64, a PEG ratio of 2.71 and a beta of 0.63. 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 firm’s 50 day moving average price is $82.61 and its 200-day moving average price is $79.70. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $22.12 billion during 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%.The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business 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. On average, equities research analysts anticipate that Sysco Corporation will post 5.08 EPS for the current year.

Sysco Dividend Announcement

The firm 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. The ex-dividend date is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.8%. Sysco’s dividend payout ratio is currently 60.11%.

Hedge Funds Weigh In On Sysco

Several institutional investors have recently bought and sold shares of SYY. BlackRock Inc. purchased a new stake in Sysco during the 2nd quarter valued at approximately $3,596,356,000. Geode Capital Management LLC grew its stake in shares of Sysco by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock valued at $934,391,000 after purchasing an additional 131,659 shares during the last quarter. Norges Bank acquired a new position in shares of Sysco in the fourth quarter valued at approximately $542,780,000. Bank of America Corp DE acquired a new position in shares of Sysco in the second quarter valued at approximately $482,589,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Sysco by 45.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company’s stock worth $416,472,000 after purchasing an additional 1,754,306 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on SYY. UBS Group boosted their price objective on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. 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 “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 10th. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Finally, Citigroup increased their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Sysco Company Profile

Sysco Corporation (NYSE:SYY) is a global foodservice distributor that supplies restaurants, health care and educational institutions, hospitality businesses, government facilities, and other customers. Its product portfolio includes fresh and frozen foods, meat and seafood, dairy products, produce, pantry staples, beverages, and specialty items, along with nonfood products such as kitchen equipment, cleaning supplies, and disposable serving products.

In addition to distribution, Sysco provides services designed to support foodservice operators, including menu planning, culinary consulting, merchandising assistance, supply-chain solutions, and business-management resources.