Corient Private Wealth LP Takes $15.11 Million Position in Sysco Corporation $SYY

Key Points

• Corient Private Wealth purchased 216,302 Sysco shares worth approximately $15.11 million in the second quarter. Institutional investors collectively own 83.41% of the company.
• Sysco reported quarterly earnings of $1.53 per share, beating estimates by $0.02, while revenue rose 4.7% year over year to $22.12 billion. Analysts currently have a consensus “Moderate Buy” rating and an average price target of $89.50.
• Sysco declared a quarterly dividend of $0.55 per share, equivalent to a $2.20 annualized payout and a 2.7% yield. Recent insider selling was primarily conducted under a trading plan to cover tax obligations.

Corient Private Wealth LP purchased a new position in Sysco Corporation (NYSE:SYY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 216,302 shares of the company's stock, valued at approximately $15,106,000.

Other institutional investors also recently bought and sold shares of the company. Montag A & Associates Inc. boosted its holdings in shares of Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company's stock valued at $644,000 after acquiring an additional 123 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in Sysco by 1.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company's stock valued at $827,000 after purchasing an additional 138 shares during the period. Diversify Wealth Management LLC increased its holdings in Sysco by 1.6% in the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company's stock worth $698,000 after acquiring an additional 143 shares in the last quarter. Arax Advisory Partners increased its stake in shares of Sysco by 2.4% during the fourth quarter. Arax Advisory Partners now owns 6,222 shares of the company's stock worth $458,000 after purchasing an additional 145 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in shares of Sysco by 11.1% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,469 shares of the company's stock valued at $108,000 after acquiring an additional 147 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY opened at $81.95 on Friday. The company has a market capitalization of $39.26 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 2.80 and a beta of 0.64. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The stock has a 50 day moving average price of $83.05 and a 200 day moving average price of $80.59.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion for the quarter, compared to analysts' expectations of $21.95 billion. During the same quarter last year, the company earned $1.48 earnings per share. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Research analysts predict that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. Sysco's dividend payout ratio (DPR) is presently 60.11%.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 506 shares of Sysco stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $84.09, for a total transaction of $42,549.54. Following the sale, the executive vice president owned 36,313 shares in the company, valued at approximately $3,053,560.17. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 a total of 14,508 shares of company stock worth $1,215,250 in the last 90 days. 0.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research reports. UBS Group raised their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Morgan Stanley increased their target price on shares of Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Piper Sandler lifted their price objective on Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Melius Research downgraded shares of Sysco from a "hold" rating to a "sell" rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen upgraded Sysco from a "hold" rating to a "buy" rating in a report on Saturday. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.50.

Sysco Company Profile

Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.

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