IFM Investors Pty Ltd Raises Stake in Sysco Corporation $SYY

Key Points

• IFM Investors Pty Ltd increased its stake in Sysco Corporation by 4.9% during the 2nd quarter, acquiring an additional 4,341 shares, bringing its total holdings to 92,468 shares valued at approximately $7 million.
• Sysco recently reported earnings of $1.48 per share for the quarter, exceeding analysts' expectations, with total revenue reaching $21.14 billion, an increase of 2.8% year-over-year.
• The company announced a quarterly dividend of $0.54 per share, representing a yield of 2.6%, payable on October 24th to investors of record as of October 3rd.

IFM Investors Pty Ltd raised its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,468 shares of the company's stock after purchasing an additional 4,341 shares during the period. IFM Investors Pty Ltd's holdings in Sysco were worth $7,004,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Grove Bank & Trust lifted its position in shares of Sysco by 2.4% in the 2nd quarter. Grove Bank & Trust now owns 9,049 shares of the company's stock valued at $685,000 after acquiring an additional 211 shares in the last quarter. Canoe Financial LP increased its stake in Sysco by 3.2% in the second quarter. Canoe Financial LP now owns 1,477,348 shares of the company's stock valued at $111,894,000 after purchasing an additional 46,199 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Sysco by 4.9% in the 2nd quarter. Exchange Traded Concepts LLC now owns 24,149 shares of the company's stock valued at $1,829,000 after acquiring an additional 1,124 shares in the last quarter. Bigelow Investment Advisors LLC raised its holdings in Sysco by 5.2% in the 2nd quarter. Bigelow Investment Advisors LLC now owns 6,879 shares of the company's stock valued at $521,000 after acquiring an additional 340 shares during the period. Finally, NorthCrest Asset Manangement LLC acquired a new position in Sysco during the second quarter valued at approximately $254,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Transactions at Sysco

In related news, 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 transaction, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the business'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 transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $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 sold a total of 92,338 shares of company stock worth $7,439,331 over the last three months. 0.54% of the stock is owned by company insiders.

Sysco Stock Performance

Shares of SYY traded up $0.49 on Friday, reaching $82.42. 7,527,001 shares of the stock traded hands, compared to its average volume of 2,871,928. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.55 and a beta of 0.80. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.24. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The stock's 50-day moving average price is $80.19 and its 200-day moving average price is $75.59.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share 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 quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

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%.

Analysts Set New Price Targets

SYY has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Bank of America increased their price objective on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Morgan Stanley lifted their price target on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Finally, UBS Group set a $90.00 price objective on Sysco in a research note on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.69.

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.