Harbour Capital Advisors LLC Buys Shares of 11,790 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 acquired a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,790 shares of the company's stock, valued at approximately $916,000.

Several other institutional investors and hedge funds have also modified their holdings of SYY. Rialto Wealth Management LLC boosted its position in shares of Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after buying an additional 217 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after acquiring an additional 140 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Sysco in the first quarter worth about $33,000. Capital A Wealth Management LLC bought a new position in Sysco in the fourth quarter worth approximately $34,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Sysco during the first quarter valued at $34,000. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SYY. Guggenheim raised their price target on shares of Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Morgan Stanley raised their price objective on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Barclays boosted their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Bank of America boosted their price objective on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, UBS Group set a $90.00 target price on shares of Sysco in a research note on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Price Performance

Shares of SYY stock traded up $0.64 during midday trading on Tuesday, reaching $82.01. 841,629 shares of the company traded hands, compared to its average volume of 3,269,627. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.24. The firm's 50 day simple moving average is $80.26 and its two-hundred day simple moving average is $75.62. The firm has a market cap of $39.75 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 2.55 and a beta of 0.80. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping 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 net margin of 2.25% and a return on equity of 109.52%. Sysco's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities research analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

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

Insider Activity

In other news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the transaction, the executive vice president owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,338 shares of company stock worth $7,439,331 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Sysco Company Profile

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.