Strs Ohio Takes Position in Sysco Corporation $SYY

Key Points

• Strs Ohio acquired a new position in Sysco Corporation, purchasing 80,561 shares valued at approximately $6,045,000 during the first quarter of the year.
• Several institutional investors increased their positions in Sysco, with Boston Partners significantly boosting its stake by 24.8% and owning over 15 million shares.
• Sysco reported a quarterly earnings per share (EPS) of $1.48, surpassing the consensus estimate, and announced a quarterly dividend of $0.54 to be paid to shareholders on October 24.

Strs Ohio bought a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 80,561 shares of the company's stock, valued at approximately $6,045,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boyd Watterson Asset Management LLC OH lifted its holdings in shares of Sysco by 106.4% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock worth $236,000 after purchasing an additional 1,622 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Sysco by 2.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock valued at $16,772,000 after acquiring an additional 4,932 shares during the period. WBI Investments LLC lifted its holdings in Sysco by 41.7% in the first quarter. WBI Investments LLC now owns 10,914 shares of the company's stock valued at $819,000 after acquiring an additional 3,211 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Sysco by 21.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,121,188 shares of the company's stock valued at $234,214,000 after acquiring an additional 544,244 shares during the period. Finally, Dynamic Advisor Solutions LLC acquired a new position in Sysco in the first quarter valued at approximately $202,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the sale, the executive vice president directly owned 41,501 shares in the company, valued at $3,361,581. This represents a 2.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 directly owned 56,304 shares in the company, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,338 shares of company stock valued at $7,439,331. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYY. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Truist Financial boosted their price objective on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. UBS Group set a $90.00 price objective on Sysco in a research report on Wednesday, July 30th. Morgan Stanley boosted their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Finally, Guggenheim boosted their price objective on Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $85.69.

Sysco Price Performance

Shares of SYY traded up $0.49 during trading hours on Friday, hitting $82.42. 7,527,001 shares of the stock were exchanged, compared to its average volume of 2,617,008. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.24. The company has a market cap of $39.95 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 2.54 and a beta of 0.80. The stock's 50-day moving average price is $80.19 and its two-hundred day moving average price is $75.58.

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

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio is presently 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.