Aberdeen Group plc Purchases 192,930 Shares of Sysco Corporation $SYY

Key Points

• Aberdeen Group plc increased its stake in Sysco Corporation by 92.0%, owning 402,714 shares valued at approximately $30 million at the end of the first quarter.
• Insider activity included significant sales by executives, with EVP Ronald L. Phillips selling 37,606 shares and Greg D. Bertrand selling 40,000 shares, indicating a substantial decrease in their ownership.
• Sysco recently reported quarterly earnings of $1.48 per share, exceeding expectations, with a revenue of $21.14 billion, representing a 2.8% year-over-year increase.

Aberdeen Group plc boosted its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 92.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 402,714 shares of the company's stock after purchasing an additional 192,930 shares during the quarter. Aberdeen Group plc owned about 0.08% of Sysco worth $30,053,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Tacita Capital Inc bought a new stake in Sysco during the first quarter worth approximately $47,000. Dimensional Fund Advisors LP boosted its position in shares of Sysco by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,509,742 shares of the company's stock valued at $338,381,000 after acquiring an additional 226,029 shares during the period. Horizon Investments LLC boosted its position in shares of Sysco by 4.3% in the first quarter. Horizon Investments LLC now owns 8,709 shares of the company's stock valued at $649,000 after acquiring an additional 363 shares during the period. Providence Capital Advisors LLC boosted its position in shares of Sysco by 1.4% in the first quarter. Providence Capital Advisors LLC now owns 83,700 shares of the company's stock valued at $6,281,000 after acquiring an additional 1,156 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of Sysco by 10.2% in the first quarter. Kovitz Investment Group Partners LLC now owns 146,882 shares of the company's stock valued at $11,022,000 after acquiring an additional 13,611 shares during the period. Institutional investors own 83.41% of the company's stock.

Sysco Price Performance

Sysco stock traded down $1.2230 during mid-day trading on Thursday, hitting $79.7570. 1,846,896 shares of the company were exchanged, compared to its average volume of 3,319,407. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The business has a fifty day moving average of $77.93 and a 200 day moving average of $74.27. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $82.64. The company has a market capitalization of $38.66 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.46 and a beta of 0.83.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The firm had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same period in the prior year, the company posted $1.39 earnings per share. The business's revenue for the quarter 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, sell-side analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. Sysco's payout ratio is presently 57.91%.

Analyst Ratings Changes

A number of research analysts recently commented on SYY shares. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Citigroup started coverage on Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price for the company. BMO Capital Markets cut their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Guggenheim upped their target price on Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.69.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 6,286 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $81.00, for a total transaction of $509,166.00. Following the sale, the executive vice president owned 34,404 shares in the company, valued at approximately $2,786,724. This represents a 15.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the sale, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,026 shares of company stock worth $6,766,059 in the last 90 days. Company insiders own 0.54% of the company's stock.

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.