Manning & Napier Advisors LLC Makes New Investment in Sysco Corporation $SYY

Manning & Napier Advisors LLC purchased a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 12,624 shares of the company's stock, valued at approximately $1,055,000.

Several other institutional investors have also modified their holdings of SYY. Lloyd Advisory Services LLC. acquired a new position in Sysco during the fourth quarter worth $25,000. Motiv8 Investments LLC acquired a new stake in Sysco in the fourth quarter valued at $25,000. Sunbelt Securities Inc. increased its position in shares of Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock valued at $26,000 after buying an additional 170 shares in the last quarter. Torren Management LLC purchased a new position in shares of Sysco in the fourth quarter valued at $27,000. Finally, Bard Associates Inc. acquired a new position in shares of Sysco during the 4th quarter worth $27,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Price Performance

Shares of Sysco stock opened at $83.50 on Wednesday. The business's fifty day moving average price is $82.82 and its 200 day moving average price is $80.61. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. 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 stock has a market capitalization of $40.01 billion, a P/E ratio of 22.81, a PEG ratio of 2.86 and a beta of 0.64.

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, beating the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the firm posted $1.48 earnings per share. Sysco's revenue for the quarter 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. As a group, research analysts anticipate that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco's dividend payout ratio is presently 60.11%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings raised shares of Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 19th. Sanford C. Bernstein cut their price objective on Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a research report on Wednesday, April 29th. Melius Research cut Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. Finally, Citigroup upped their price objective on Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $89.50.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 506 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $84.09, for a total value of $42,549.54. Following the completion of the transaction, the executive vice president owned 36,313 shares of the company's stock, valued at approximately $3,053,560.17. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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. Insiders sold 14,508 shares of company stock worth $1,215,250 in the last three months. 0.56% of the stock is owned by company insiders.

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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