Elevation Point Wealth Partners LLC acquired a new position in Sysco Corporation (NYSE:SYY - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,340 shares of the company's stock, valued at approximately $1,115,000.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Sysco in the second quarter worth about $3,596,356,000. Norges Bank purchased a new position in shares of Sysco in the 4th quarter worth approximately $542,780,000. Wellington Management Group LLP boosted its holdings in shares of Sysco by 3,977.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company's stock worth $387,935,000 after purchasing an additional 4,595,819 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Sysco during the 2nd quarter valued at approximately $273,323,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Sysco during the 2nd quarter valued at approximately $203,861,000. Institutional investors own 83.41% of the company's stock.
Sysco Price Performance
Shares of SYY stock opened at $83.86 on Tuesday. The company has a market capitalization of $40.15 billion, a P/E ratio of 22.91, a P/E/G ratio of 2.87 and a beta of 0.64. The company's 50-day simple moving average is $82.74 and its two-hundred day simple moving average is $80.62. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77.
Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company's revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, equities analysts anticipate that Sysco Corporation will post 5.12 EPS for the current year.
Sysco Announces Dividend
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. This represents a $2.20 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 2nd. Sysco's dividend payout ratio (DPR) is presently 60.11%.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Sysco from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a research report on Tuesday, April 28th. Melius Research cut shares of Sysco from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Sanford C. Bernstein reduced their target price on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 29th. Barclays lowered their target price on shares of Sysco from $92.00 to $86.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Finally, Morgan Stanley lifted their price target 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. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $89.50.
Check Out Our Latest Stock Analysis on Sysco
Insiders Place Their Bets
In other Sysco news, EVP Ronald L. Phillips sold 367 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $83.39, for a total value of $30,604.13. Following the completion of the sale, the executive vice president directly owned 38,650 shares in the company, valued at approximately $3,223,023.50. This represents a 0.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. 0.56% of the stock is currently owned by company insiders.
About Sysco
(
Free Report)
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.
See Also
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