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

Key Points

• Sysco EVP Ronald Phillips sold 7,350 shares at an average price of $83.61, generating $614,533.50. The sale was conducted under a Rule 10b5-1 plan to cover tax obligations from vested equity awards, leaving him with 38,650 shares.
• Sysco recently exceeded quarterly expectations, reporting $1.53 in EPS and $22.12 billion in revenue, up 4.7% year over year. The company also declared a quarterly dividend of $0.55 per share, equivalent to a 2.6% annualized yield.
• Analyst sentiment remains positive overall, with nine Buy ratings, six Holds and one Sell, producing a “Moderate Buy” consensus and an average price target of $89.50. Institutional investors own 83.41% of Sysco’s outstanding shares.

Sysco Corporation (NYSE:SYY - Get Free Report) EVP Ronald Phillips sold 7,350 shares of the business's stock in a transaction dated Friday, August 21st. The stock was 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 in the company, valued at $3,231,526.50. This represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Price Performance

NYSE:SYY traded down $0.36 during mid-day trading on Tuesday, hitting $83.50. 1,670,326 shares of the company's stock traded hands, compared to its average volume of 4,086,522. 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 market cap of $39.98 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64. The firm's 50 day simple moving average is $82.74 and its 200 day simple moving average is $80.62. Sysco Corporation has a 1 year low of $68.19 and a 1 year 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 the consensus estimate of $21.95 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Sell-side analysts expect that Sysco Corporation will post 5.12 EPS for the current 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 issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, October 2nd. Sysco's dividend payout ratio is 60.11%.

Institutional Investors Weigh In On Sysco

Several hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC boosted its holdings in shares of Sysco by 53.1% in the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company's stock valued at $1,674,000 after purchasing an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. raised its position in shares of Sysco by 24.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company's stock worth $781,000 after buying an additional 2,000 shares during the period. NewEdge Advisors LLC raised its position in shares of Sysco by 62.4% in the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company's stock worth $2,685,000 after buying an additional 13,616 shares during the period. Sei Investments Co. boosted its holdings in Sysco by 14.2% in the second quarter. Sei Investments Co. now owns 344,504 shares of the company's stock valued at $26,092,000 after acquiring an additional 42,903 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Sysco by 0.8% during the second quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company's stock valued at $17,166,000 after acquiring an additional 1,710 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYY. UBS Group upped their price objective on Sysco from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Citigroup boosted their target price on shares of Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Melius Research lowered shares of Sysco from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 19th. Nine 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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