Key Points
- Sysco EVP Ronald Phillips sold 7,350 shares for approximately $614,534 under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards. His remaining stake fell 15.98% to 38,650 shares.
- Sysco reported quarterly adjusted earnings of $1.53 per share and revenue of $22.12 billion, exceeding analyst estimates, while revenue increased 4.7% year over year.
- The company declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 2.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $89.50.
Sysco Corporation (NYSE:SYY - Get Free Report) EVP Ronald Phillips sold 506 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.09, for a total value of $42,549.54. Following the completion of the transaction, the executive vice president directly owned 36,313 shares in the company, valued at $3,053,560.17. The trade was a 1.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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
Sysco stock opened at $83.50 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The firm has a market capitalization of $40.01 billion, a P/E ratio of 22.81, a PEG ratio of 2.86 and a beta of 0.64. The business has a 50-day moving average of $82.82 and a 200-day moving average of $80.61. 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 released 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 business had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. Sysco's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 EPS. 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 analysts anticipate that Sysco Corporation will post 5.12 EPS for the current year.
Sysco Dividend Announcement
The company 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 $0.55 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.6%. Sysco's payout ratio is 60.11%.
Institutional Trading of Sysco
Several hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC lifted its stake in 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 acquiring an additional 7,742 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company's stock valued at $781,000 after purchasing an additional 2,000 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Sysco by 62.4% in the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company's stock worth $2,685,000 after purchasing an additional 13,616 shares in the last quarter. Sei Investments Co. boosted its holdings in Sysco by 14.2% during the second quarter. Sei Investments Co. now owns 344,504 shares of the company's stock worth $26,092,000 after purchasing 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% in 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 purchasing an additional 1,710 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on the company. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Piper Sandler increased their price target on Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Weiss Ratings raised Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 19th. Morgan Stanley lifted their price objective on Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. Finally, Citigroup increased their target price on Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.50.
Check Out Our Latest Analysis on Sysco
Sysco Company Profile
(
Get Free Report)
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.
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