Insider Selling: Sysco (NYSE:SYY) EVP Sells $527,562.90 in Stock

Key Points

• Sysco EVP Ronald Phillips sold 6,285 shares for approximately $527,563 at an average price of $83.94, reducing his ownership by 13.59%. The sale was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• Sysco reported quarterly EPS of $1.53, beating estimates by $0.02, while revenue reached $22.12 billion, up 4.7% year over year and above analyst expectations.
• Shares recently traded near $84.76, while analysts maintain a consensus “Hold” rating and an average price target of $89.50; institutional investors own 83.41% of the company.

Sysco Corporation (NYSE:SYY - Get Free Report) EVP Ronald Phillips sold 6,285 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $83.94, for a total transaction of $527,562.90. Following the completion of the transaction, the executive vice president owned 39,970 shares of the company's stock, valued at $3,355,081.80. This trade represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 Trading Up 0.6%

Shares of SYY traded up $0.50 during trading hours on Wednesday, reaching $84.76. 3,345,734 shares of the company traded hands, compared to its average volume of 4,192,230. The company's fifty day moving average price is $81.70 and its two-hundred day moving average price is $80.50. The company has a market capitalization of $40.58 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results 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. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion for the quarter, compared to analysts' expectations of $21.95 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. Sysco's quarterly revenue was up 4.7% on a year-over-year basis. 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 research analysts predict that Sysco Corporation will post 5.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SYY. Melius Research lowered Sysco from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Piper Sandler upped their price target on Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. UBS Group increased their price objective on Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Barclays lowered their price objective on Sysco from $92.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Finally, Citigroup boosted their target price on shares of Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $89.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in Sysco during the second quarter valued at $7,560,000. Evolve Private Wealth LLC purchased a new stake in shares of Sysco in the second quarter worth $521,000. Varma Mutual Pension Insurance Co bought a new position in shares of Sysco during the second quarter valued at $13,006,000. Sumitomo Life Insurance Co. purchased a new position in shares of Sysco in the 2nd quarter worth about $14,359,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Sysco in the 2nd quarter worth about $3,052,000. Institutional investors own 83.41% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source