Ronald L. Phillips Sells 6,286 Shares of Sysco Corporation (NYSE:SYY) Stock

Key Points

• Ronald L. Phillips, the Executive Vice President of Sysco Corporation, sold 6,286 shares at an average price of $81.00, reducing his holding by 15.45% to 34,404 shares.
• Sysco Corporation reported $1.48 earnings per share for the last quarter, exceeding estimates by $0.09, with quarterly revenues reaching $21.14 billion.
• Recent analyst ratings show a mix of upgrades and downgrades, with an average target price for Sysco shares set at $85.69 and a consensus rating of "Moderate Buy."

Sysco Corporation (NYSE:SYY - Get Free Report) EVP Ronald L. Phillips sold 6,286 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total transaction of $509,166.00. Following the completion of the sale, the executive vice president owned 34,404 shares of the company's stock, valued at approximately $2,786,724. This represents a 15.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sysco Price Performance

SYY traded down $1.71 during trading on Friday, reaching $79.49. 3,936,783 shares of the company traded hands, compared to its average volume of 3,350,089. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.64. The firm has a fifty day simple moving average of $77.55 and a 200 day simple moving average of $74.08. The company has a market cap of $38.53 billion, a P/E ratio of 21.31, a PEG ratio of 2.55 and a beta of 0.83.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. The firm had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. Sysco's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.39 earnings per share. On average, equities analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Barclays lifted their target price on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Citigroup initiated coverage on shares of Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price for the company. Morgan Stanley lifted their target price on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Finally, Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $85.69.

Institutional Trading of Sysco

Institutional investors and hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its position in Sysco by 5.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 60,489 shares of the company's stock valued at $4,627,000 after buying an additional 2,917 shares during the last quarter. Townsquare Capital LLC increased its stake in shares of Sysco by 3.4% in the 4th quarter. Townsquare Capital LLC now owns 19,400 shares of the company's stock worth $1,483,000 after acquiring an additional 642 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Sysco by 3.4% during the 4th quarter. Jump Financial LLC now owns 12,413 shares of the company's stock worth $949,000 after purchasing an additional 403 shares during the period. NFJ Investment Group LLC grew its holdings in shares of Sysco by 13.3% during the 4th quarter. NFJ Investment Group LLC now owns 38,172 shares of the company's stock worth $2,919,000 after purchasing an additional 4,493 shares during the period. Finally, Marshall Wace LLP purchased a new position in Sysco during the 4th quarter valued at about $2,021,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

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