Sciencast Management LP Buys New Shares in Sysco Corporation $SYY

Key Points

• Sciencast Management LP has purchased 39,288 shares of Sysco Corporation, valued at approximately $2.95 million, as part of a new investment position.
• On the analyst front, several firms, including JPMorgan and Bank of America, have raised their target prices for Sysco, with an average target of $85.69 and a "Moderate Buy" rating.
• Sysco recently announced a quarterly dividend of $0.54 per share, resulting in an annualized yield of 2.6%, with the payout scheduled for October 24th.

Sciencast Management LP bought a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 39,288 shares of the company's stock, valued at approximately $2,948,000.

Other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC increased its holdings in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares during the period. Golden State Wealth Management LLC increased its holdings in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Sysco in the first quarter valued at approximately $33,000. Capital A Wealth Management LLC purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $34,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Sysco in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of analyst reports. Wall Street Zen upgraded Sysco from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Citigroup initiated coverage on Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price target on the stock. Morgan Stanley lifted their price target on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their price target on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Finally, UBS Group set a $90.00 price target on Sysco in a research note on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Sysco has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 7,351 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total value of $595,431.00. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,377 shares of company stock worth $7,361,490 over the last 90 days. Company insiders own 0.54% of the company's stock.

Sysco Price Performance

SYY traded down $0.60 during trading on Wednesday, reaching $80.25. 2,135,835 shares of the stock were exchanged, compared to its average volume of 2,568,599. The business's 50 day moving average price is $79.53 and its two-hundred day moving average price is $75.25. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The company has a market capitalization of $38.90 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 2.50 and a beta of 0.80. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.17.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. During the same period in the previous year, the business earned $1.39 earnings per share. Sysco's quarterly revenue was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio is currently 57.91%.

About Sysco

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.