Harbour Capital Advisors LLC Invests $916,000 in Sysco Corporation $SYY

Key Points

• Harbour Capital Advisors LLC has invested approximately $916,000 in Sysco Corporation, acquiring 11,790 shares during the second quarter as reported in a recent SEC filing.
• Sysco Corporation reported earnings of $1.48 EPS for the last quarter, exceeding the consensus estimate of $1.39 EPS, with a revenue of $21.14 billion, an increase of 2.8% year-over-year.
• The company announced a quarterly dividend of $0.54 per share, which will be paid to stockholders on October 24th, representing an annualized dividend yield of 2.6%.

Harbour Capital Advisors LLC purchased a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,790 shares of the company's stock, valued at approximately $916,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. NorthCrest Asset Manangement LLC grew its stake in Sysco by 4.9% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after purchasing an additional 139 shares during the period. Golden State Wealth Management LLC grew its stake in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares during the period. Trust Co of the South grew its stake in shares of Sysco by 3.0% during the 2nd quarter. Trust Co of the South now owns 4,849 shares of the company's stock worth $367,000 after acquiring an additional 142 shares during the period. Chicago Partners Investment Group LLC grew its stake in shares of Sysco by 1.6% during the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock worth $627,000 after acquiring an additional 143 shares during the period. Finally, One Wealth Advisors LLC grew its stake in shares of Sysco by 3.3% during the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock worth $353,000 after acquiring an additional 151 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

NYSE:SYY opened at $82.42 on Friday. 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 stock has a market cap of $39.95 billion, a P/E ratio of 22.10, a PEG ratio of 2.54 and a beta of 0.80. The business's 50-day moving average price is $80.19 and its two-hundred day moving average price is $75.58. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.24.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.39 by $0.09. The firm had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company's revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.6%. Sysco's dividend payout ratio is 57.91%.

Insider Activity

In other news, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. This represents a 55.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock worth $7,439,331 over the last quarter. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SYY shares. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Bank of America increased their price objective on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Truist Financial increased their price objective on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Morgan Stanley increased their price objective on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Finally, Guggenheim increased their price objective on Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

About Sysco

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.

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