Engineers Gate Manager LP Has $21.83 Million Stock Holdings in Sysco Corporation $SYY

Key Points

• Engineers Gate Manager LP cut its Sysco stake by 53.5% in the second quarter, selling 300,721 shares and retaining 261,191 shares worth approximately $21.83 million. Institutional investors own 83.41% of Sysco.
• Sysco beat quarterly expectations, reporting $1.53 in EPS and $22.12 billion in revenue, with revenue up 4.7% year over year. The company declared a $0.55 quarterly dividend, equal to a 2.7% annualized yield.
• Analyst sentiment remains generally positive, with nine Buy, six Hold, and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $89.50.

Engineers Gate Manager LP trimmed its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 53.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 261,191 shares of the company's stock after selling 300,721 shares during the quarter. Engineers Gate Manager LP owned about 0.05% of Sysco worth $21,830,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Lloyd Advisory Services LLC. bought a new stake in shares of Sysco during the 4th quarter worth about $25,000. Motiv8 Investments LLC acquired a new stake in Sysco during the fourth quarter worth approximately $25,000. N.E.W. Advisory Services LLC acquired a new stake in Sysco during the second quarter worth approximately $29,000. Sunbelt Securities Inc. boosted its holdings in shares of Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock worth $26,000 after acquiring an additional 170 shares during the period. Finally, Bard Associates Inc. acquired a new position in shares of Sysco in the fourth quarter valued at approximately $27,000. 83.41% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Ronald Phillips sold 506 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $84.09, for a total value of $42,549.54. Following the transaction, the executive vice president owned 36,313 shares in the company, valued at approximately $3,053,560.17. This trade represents a 1.37% 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. 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. Over the last quarter, insiders sold 14,508 shares of company stock worth $1,215,250. Corporate insiders own 0.56% of the company's stock.

Sysco Stock Up 2.3%

NYSE SYY opened at $81.68 on Thursday. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The company has a market cap of $39.13 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.72 and a beta of 0.63. The company has a 50 day moving average of $82.96 and a 200-day moving average of $80.07. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85.

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

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders 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 dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco's dividend payout ratio is 60.11%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings raised Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 19th. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a report on Sunday. Citigroup lifted their target price on Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Piper Sandler boosted their target price on shares of Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Finally, Morgan Stanley upped their price target on shares of Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $89.50.

Sysco Profile

Sysco Corporation NYSE: SYY is a global foodservice distributor that supplies restaurants, health care and educational institutions, hospitality businesses, government facilities, and other customers. Its product portfolio includes fresh and frozen foods, meat and seafood, dairy products, produce, pantry staples, beverages, and specialty items, along with nonfood products such as kitchen equipment, cleaning supplies, and disposable serving products.

In addition to distribution, Sysco provides services designed to support foodservice operators, including menu planning, culinary consulting, merchandising assistance, supply-chain solutions, and business-management resources.

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