Insider Buying: Sysco (NYSE:SYY) Director Purchases $191,550.00 in Stock

Sysco Corporation (NYSE:SYY) Director Thomas Gerard Ondrof acquired 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were purchased at an average price of $76.62 per share, with a total value of $191,550.00. Following the acquisition, the director owned 2,500 shares of the company’s stock, valued at approximately $191,550. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sysco Stock Performance

NYSE SYY opened at $76.85 on Friday. The company has a fifty day simple moving average of $79.89 and a 200 day simple moving average of $80.50. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. The company has a market cap of $37.83 billion, a P/E ratio of 20.44, a PEG ratio of 1.88 and a beta of 0.66.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. Sysco had a net margin of 2.12% and a return on equity of 79.24%. The business had revenue of $21.74 billion during the quarter, compared to analyst estimates of $22.02 billion. During the same quarter in the previous year, the business posted $1.15 EPS. Sysco’s quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts predict that Sysco Corporation will post 5.06 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is currently 58.51%.

Hedge Funds Weigh In On Sysco

Institutional investors have recently modified their holdings of the business. Sunbelt Securities Inc. lifted its holdings in Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 170 shares during the period. Salomon & Ludwin LLC grew its stake in Sysco by 718.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 352 shares of the company’s stock valued at $27,000 after purchasing an additional 309 shares during the period. N.E.W. Advisory Services LLC bought a new position in Sysco in the 2nd quarter valued at $29,000. Markowski Investments bought a new position in Sysco in the 2nd quarter valued at $31,000. Finally, Parvin Asset Management LLC bought a new position in Sysco in the 2nd quarter valued at $32,000. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. UBS Group lifted their price target on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings lowered Sysco from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on Sysco from $86.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler increased their price objective on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.13.

Key Headlines Impacting Sysco

Here are the key news stories impacting Sysco this week:

• Positive Sentiment: Director Thomas Gerard Ondrof purchased 2,500 shares at an average price of $76.62, a modest sign of insider confidence. Director stock purchase
• Neutral Sentiment: Citigroup lowered its price target from $87 to $84 and maintained a Hold/neutral rating. The target still implies potential upside from the cited share price, but the reduction reflects more restrained expectations. Citi rating
• Negative Sentiment: JPMorgan also lowered its expectations for SYY, adding to a cautious analyst tone. JPMorgan expectations
• Negative Sentiment: Sysco’s latest quarterly revenue of $21.74 billion fell short of analyst estimates, although earnings per share matched expectations at $1.19 and revenue grew 2.8% year over year. Recent trading and results context
• Negative Sentiment: The proposed $29.1 billion Jetro Restaurant Depot acquisition is still awaiting FTC clearance; regulatory and cost exposure has drawn investor scrutiny and could add uncertainty. Acquisition investigation notice

Sysco Company Profile

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries.

The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.

Sysco serves customers across the United States and in international markets, including Canada and parts of Europe.