Ninety One UK Ltd Buys 2,131,238 Shares of Sysco Corporation $SYY

Key Points

• Ninety One UK Ltd acquired 2.13 million Sysco shares worth approximately $166.2 million, giving it a 0.43% stake. Institutional investors and hedge funds collectively own 83.41% of the company.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $90.42, although one brokerage downgraded the stock to sell.
• Sysco reported quarterly EPS of $1.53 and revenue of $22.12 billion, exceeding estimates, and declared a quarterly dividend of $0.55 per share, representing a 2.7% annualized yield.

Ninety One UK Ltd purchased a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,131,238 shares of the company's stock, valued at approximately $166,151,000. Ninety One UK Ltd owned 0.43% of Sysco at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SYY. Sunbelt Securities Inc. raised its holdings in shares of Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock valued at $26,000 after buying an additional 170 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Sysco during the 2nd quarter worth approximately $29,000. Markowski Investments purchased a new position in Sysco in the 2nd quarter worth approximately $31,000. Evolution Wealth Management Inc. boosted its holdings in Sysco by 257.6% in the 1st quarter. Evolution Wealth Management Inc. now owns 447 shares of the company's stock worth $32,000 after acquiring an additional 322 shares during the period. Finally, Parvin Asset Management LLC purchased a new position in Sysco in the 2nd quarter worth approximately $32,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYY. Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a research report on Saturday, October 3rd. UBS Group boosted their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Guggenheim restated a "buy" rating and issued a $90.00 target price on shares of Sysco in a research note on Wednesday, September 16th. Melius Research downgraded shares of Sysco from a "hold" rating to a "sell" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings lowered shares of Sysco from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, September 28th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.42.

Insiders Place Their Bets

In other news, EVP Ronald Phillips sold 960 shares of the business's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $83.00, for a total transaction of $79,680.00. Following the completion of the transaction, the executive vice president owned 49,852 shares of the company's stock, valued at approximately $4,137,716. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 15,525 shares of company stock valued at $1,299,736 over the last quarter. 0.55% of the stock is owned by company insiders.

Sysco Stock Performance

SYY traded up $1.23 on Thursday, hitting $82.20. 1,038,882 shares of the company's stock were exchanged, compared to its average volume of 4,057,135. 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 fifty day moving average of $80.72 and a two-hundred day moving average of $78.87. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The firm has a market cap of $40.44 billion, a PE ratio of 22.48, a P/E/G ratio of 2.76 and a beta of 0.64.

Sysco (NYSE:SYY - Get Free Report) last posted its 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. The company had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The business's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, research analysts anticipate that Sysco Corporation will post 5.10 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 2nd. Sysco's dividend payout ratio is presently 60.11%.

Sysco Company Profile

Sysco Corporation is a global foodservice distributor headquartered in Houston, Texas. The company supplies restaurants, hotels, healthcare facilities, educational institutions, government organizations and other foodservice customers with a broad range of products and related services.

Sysco's offerings include fresh and frozen foods, meat and seafood, dairy products, produce, canned and dry goods, beverages, specialty and international foods, and prepared and ready-to-use items. The company also distributes nonfood products such as kitchen equipment, tableware, cleaning supplies and other operating supplies.

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