Aberdeen Group plc Acquires 20,862 Shares of Sysco Corporation $SYY

Key Points

• Aberdeen Group plc increased its stake in Sysco Corporation by 5.2%, owning a total of 423,576 shares valued at approximately $31.9 million after acquiring an additional 20,862 shares during the second quarter.
• Multiple research firms raised their target prices for Sysco stock, with Bank of America increasing it from $81.00 to $93.00 and reiterating a "buy" rating, while the stock has a consensus rating of "Moderate Buy" with a target price of $85.85.
• Sysco reported stronger-than-expected quarterly earnings, with an EPS of $1.48 and revenue of $21.14 billion, exceeding analyst estimates and showing a 2.8% increase from the previous year.

Aberdeen Group plc grew its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 5.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 423,576 shares of the company's stock after purchasing an additional 20,862 shares during the period. Aberdeen Group plc owned approximately 0.09% of Sysco worth $31,900,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Boyd Watterson Asset Management LLC OH raised its position in shares of Sysco by 106.4% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock valued at $236,000 after purchasing an additional 1,622 shares during the period. Gradient Investments LLC raised its position in shares of Sysco by 9.2% in the second quarter. Gradient Investments LLC now owns 189,169 shares of the company's stock valued at $14,328,000 after purchasing an additional 15,906 shares during the period. Beacon Financial Group raised its position in shares of Sysco by 55.5% in the second quarter. Beacon Financial Group now owns 9,955 shares of the company's stock valued at $754,000 after purchasing an additional 3,554 shares during the period. Shell Asset Management Co. raised its position in shares of Sysco by 31.6% in the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company's stock valued at $1,456,000 after purchasing an additional 4,620 shares during the period. Finally, KLP Kapitalforvaltning AS raised its position in shares of Sysco by 5.8% in the second quarter. KLP Kapitalforvaltning AS now owns 448,600 shares of the company's stock valued at $33,977,000 after purchasing an additional 24,500 shares during the period. Institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYY. Morgan Stanley upped their target price on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Guggenheim upped their target price on shares of Sysco from $87.00 to $89.00 and gave the stock a "buy" rating in a report on Monday, October 6th. UBS Group set a $90.00 target price on shares of Sysco in a report on Wednesday, July 30th. Bank of America upped their target price on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $85.85.

Sysco Price Performance

Shares of NYSE:SYY opened at $78.44 on Monday. The company's fifty day moving average price is $80.81 and its 200-day moving average price is $76.41. The firm has a market capitalization of $37.53 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.43 and a beta of 0.82. Sysco Corporation has a one year low of $67.12 and a one year high of $83.47. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly 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. The firm had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. Sysco's dividend payout ratio is 57.91%.

Insiders Place Their Bets

In other news, 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 sale, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald L. Phillips sold 961 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the sale, the executive vice president directly owned 41,501 shares of the company's stock, valued at $3,361,581. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,338 shares of company stock valued at $7,439,331 in the last ninety days. 0.56% of the stock is owned by corporate insiders.

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.

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