Flputnam Investment Management Co. Buys Shares of 39,761 Sysco Corporation $SYY

Key Points

• Flputnam Investment Management acquired 39,761 Sysco shares worth approximately $3.32 million during the second quarter. Institutional investors collectively own 83.41% of Sysco’s outstanding stock.
• Sysco exceeded quarterly expectations, reporting adjusted EPS of $1.53 versus the $1.51 consensus estimate and revenue of $22.12 billion, up 4.7% year over year.
• Analyst sentiment remains mixed: Sysco has a consensus “Hold” rating and an average price target of $89.50, compared with a recent share price of $82.94.

Flputnam Investment Management Co. acquired a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 39,761 shares of the company's stock, valued at approximately $3,323,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYY. Global Retirement Partners LLC bought a new stake in Sysco during the 2nd quarter worth $1,348,000. 1ST Source Bank acquired a new stake in shares of Sysco in the second quarter valued at about $1,619,000. Bank of New York Mellon Corp bought a new position in shares of Sysco during the second quarter worth about $273,323,000. Focus Partners Advisor Solutions LLC bought a new position in Sysco during the 2nd quarter worth approximately $1,467,000. Finally, State of Wyoming bought a new position in Sysco during the second quarter worth $229,000. Institutional investors own 83.41% of the company's stock.

Insider Activity

In related news, Director John M. Hinshaw acquired 13,304 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the acquisition, the director owned 40,200 shares of the company's stock, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 6,285 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $83.94, for a total transaction of $527,562.90. Following the completion of the sale, the executive vice president directly owned 39,970 shares in the company, valued at approximately $3,355,081.80. The trade was a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 owned by company insiders.

Sysco Price Performance

SYY opened at $82.94 on Monday. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The firm has a 50-day moving average of $82.21 and a 200 day moving average of $80.66. The firm has a market cap of $39.71 billion, a P/E ratio of 22.66, a PEG ratio of 2.84 and a beta of 0.64. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.02. The company had revenue of $22.12 billion for the quarter, compared to analysts' expectations of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. Sysco'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 EPS. 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, research analysts expect that Sysco Corporation will post 5.1 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SYY shares. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Morgan Stanley boosted their price target on Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. Piper Sandler increased their price target on Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Citigroup raised their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Tuesday, April 28th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target 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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