488,471 Shares of Sysco Corporation $SYY Purchased by Associated Banc Corp

Key Points

• Associated Banc Corp bought 488,471 Sysco shares in the third quarter, valued at about $38.1 million. The stake represents roughly 0.10% of Sysco and 0.9% of the bank’s portfolio.
• Sysco reported quarterly EPS of $1.19, in line with expectations, while revenue of $21.74 billion fell short of the $22.02 billion estimate but rose 2.8% year over year.
• Sysco’s quarterly dividend was $0.55 per share, equivalent to a $2.20 annualized payout and a reported 3.0% yield. Analysts’ consensus rating was “Moderate Buy,” with a $90.42 average price target.

Associated Banc Corp bought a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 488,471 shares of the company's stock, valued at approximately $38,081,000. Sysco accounts for about 0.9% of Associated Banc Corp's portfolio, making the stock its 26th largest position. Associated Banc Corp owned approximately 0.10% of Sysco as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SYY. N.E.W. Advisory Services LLC purchased a new stake in Sysco in the 2nd quarter worth $29,000. Salomon & Ludwin LLC grew its position in shares of Sysco by 718.6% in the third 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. Sunbelt Securities Inc. grew its position in shares of Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock valued at $26,000 after purchasing an additional 170 shares during the period. Markowski Investments acquired a new stake in shares of Sysco in the second quarter valued at about $31,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of Sysco during the second quarter worth about $32,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Activity

In related news, EVP Ronald Phillips sold 960 shares of Sysco stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $83.00, for a total transaction of $79,680.00. Following the transaction, the executive vice president owned 49,852 shares in the company, valued at approximately $4,137,716. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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. Insiders sold 15,525 shares of company stock valued at $1,299,736 in the last ninety days. 0.55% of the stock is owned by corporate insiders.

Sysco Stock Performance

NYSE:SYY opened at $74.12 on Wednesday. The company has a market cap of $36.46 billion, a P/E ratio of 20.25, a P/E/G ratio of 2.30 and a beta of 0.66. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The company's 50-day moving average price is $80.30 and its 200-day moving average price is $80.52. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.19. The company had revenue of $21.74 billion during the quarter, compared to analysts' expectations of $22.02 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. Sysco's revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 EPS. On average, sell-side analysts forecast that Sysco Corporation will post 5.09 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, October 2nd. Sysco's payout ratio is currently 60.11%.

Key Sysco News

Here are the key news stories impacting Sysco this week:

• Positive Sentiment: Local case volume grew 2.7% in the first quarter, and Sysco reiterated its fiscal 2027 adjusted EPS growth outlook of 9%–11%. The company also expects its AI transformation efforts to generate $100 million in savings in fiscal 2027. Sysco: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Sysco reported adjusted first-quarter EPS of $1.19, in line with the company’s cited consensus estimate and ahead of the $1.17 estimate reported by Zacks. It also named interim CFO Brandon Sewell as permanent CFO, providing continuity in the finance leadership role. Sysco Q1 Earnings: Sales Miss Estimates, Full-Year EPS Outlook Unchanged
• Negative Sentiment: Revenue of $21.74 billion was below the $22.02 billion analyst estimate, despite increasing 2.8% year over year. The company said a cyclosporiasis outbreak affected first-quarter sales, while costs related to the Jetro acquisition and concerns around sales guidance added pressure. The revenue miss appears to have outweighed the EPS result and reaffirmed full-year earnings outlook. Food distributor Sysco says cyclosporiasis outbreak hit Q1 sales Sysco under pressure on Jetro acquisition costs, FY sales guidance

Analyst Ratings Changes

SYY has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Sysco from $88.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 15th. Weiss Ratings upgraded Sysco from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 15th. Guggenheim reiterated a "buy" rating and set a $90.00 price objective on shares of Sysco in a research note on Wednesday, September 16th. Melius Research lowered Sysco from a "hold" rating to a "sell" rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. reduced their target price on Sysco from $100.00 to $95.00 and set an "overweight" rating for the company in a report on Tuesday, September 29th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.42.

Sysco Company Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.