MV Capital Management Inc. Invests $2.82 Million in Sysco Corporation $SYY

Key Points

• MV Capital Management disclosed a new fourth-quarter position in Sysco, buying 38,211 shares valued at about $2.82 million.
• Sysco also saw insider buying, with Director John M. Hinshaw purchasing 13,304 shares for roughly $1.0 million, increasing his holdings by nearly 49.5%.
• The company recently raised its quarterly dividend to $0.55 per share, while analysts currently have a Moderate Buy consensus with an average price target of $88.15.

MV Capital Management Inc. bought a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 38,211 shares of the company's stock, valued at approximately $2,816,000.

A number of other institutional investors also recently bought and sold shares of the business. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Sysco in the 3rd quarter valued at $25,000. Lloyd Advisory Services LLC. purchased a new stake in Sysco in the fourth quarter valued at $25,000. Motiv8 Investments LLC acquired a new stake in Sysco during the 4th quarter worth about $25,000. Torren Management LLC acquired a new stake in Sysco during the 4th quarter worth about $27,000. Finally, Bard Associates Inc. purchased a new position in shares of Sysco during the 4th quarter valued at about $27,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sysco news, Director John M. Hinshaw acquired 13,304 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the transaction, the director directly owned 40,200 shares of the company's stock, valued at $3,021,834. This represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SYY shares. Wells Fargo & Company boosted their price objective on Sysco from $92.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, February 19th. Sanford C. Bernstein reduced their price target 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. Guggenheim decreased their price target on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Piper Sandler lowered their price objective on Sysco from $83.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. Finally, Weiss Ratings cut shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 30th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.15.

Sysco Trading Down 0.5%

Shares of Sysco stock opened at $78.64 on Friday. The firm has a 50-day simple moving average of $75.30 and a two-hundred day simple moving average of $78.29. The company has a market cap of $37.60 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The business had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same quarter last year, the business earned $0.96 earnings per share. Sysco's revenue was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, equities analysts predict that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.55 per share. This is an increase from Sysco's previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, July 2nd. Sysco's dividend payout ratio (DPR) is currently 59.83%.

About Sysco

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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