Investors Purchase High Volume of Put Options on Sysco (NYSE:SYY)

Sysco Corporation (NYSE:SYY) saw unusually large options trading on Tuesday. Stock investors purchased 6,277 put options on the company. This represents an increase of approximately 139% compared to the average volume of 2,622 put options.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total transaction of $595,431.00. Following the transaction, the executive vice president owned 41,837 shares in the company, valued at approximately $3,388,797. This represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 14,732 shares of company stock worth $1,193,245 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Sysco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. increased its stake in shares of Sysco by 2.6% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 4,904 shares of the company’s stock worth $404,000 after purchasing an additional 126 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Sysco by 0.3% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 40,852 shares of the company’s stock worth $3,364,000 after purchasing an additional 130 shares during the last quarter. Facet Wealth Inc. increased its stake in shares of Sysco by 1.2% during the 2nd quarter. Facet Wealth Inc. now owns 10,671 shares of the company’s stock worth $849,000 after purchasing an additional 131 shares during the last quarter. Ellis Investment Partners LLC boosted its holdings in Sysco by 4.9% in the 2nd quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock worth $214,000 after buying an additional 133 shares during the period. Finally, Silver Oak Securities Incorporated boosted its holdings in Sysco by 4.0% in the 3rd quarter. Silver Oak Securities Incorporated now owns 3,493 shares of the company’s stock worth $288,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SYY shares. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday. Bank of America increased their target price on Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 18th. Sanford C. Bernstein started coverage on Sysco in a report on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 target price for the company. Truist Financial increased their target price on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Citigroup increased their target price on Sysco from $84.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Sysco Price Performance

NYSE:SYY opened at $76.03 on Wednesday. The stock has a 50 day moving average price of $80.43 and a 200 day moving average price of $76.97. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The stock has a market cap of $36.38 billion, a PE ratio of 20.38, a P/E/G ratio of 2.30 and a beta of 0.82. Sysco has a one year low of $67.12 and a one year high of $83.47.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. The company had revenue of $21.15 billion during the quarter, compared to analysts’ expectations of $21.03 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities research analysts expect that Sysco will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 3rd were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.8%. Sysco’s dividend payout ratio (DPR) is 57.91%.

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.