NorthCrest Asset Manangement LLC Purchases New Position in Sysco Corporation $SYY

Key Points

• NorthCrest Asset Management acquired 3,285 shares of Sysco Corporation, valued at approximately $254,000, during the second quarter.
• Sysco reported an EPS of $1.48 for the last quarter, exceeding analysts' estimates, with revenue of $21.14 billion, up 2.8% year-over-year.
• The company announced a quarterly dividend of $0.54 per share to be paid on October 24th, representing a yield of 2.6% and a payout ratio of 57.91%.

NorthCrest Asset Manangement LLC bought a new position in Sysco Corporation (NYSE:SYY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,285 shares of the company's stock, valued at approximately $254,000.

Several other hedge funds have also made changes to their positions in the business. Vise Technologies Inc. boosted its position in shares of Sysco by 67.7% in the fourth quarter. Vise Technologies Inc. now owns 6,961 shares of the company's stock worth $532,000 after buying an additional 2,810 shares during the period. Toronto Dominion Bank increased its stake in Sysco by 43.1% during the 4th quarter. Toronto Dominion Bank now owns 265,924 shares of the company's stock valued at $20,332,000 after buying an additional 80,075 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Sysco by 14.3% in the 4th quarter. Mackenzie Financial Corp now owns 49,834 shares of the company's stock worth $3,810,000 after purchasing an additional 6,236 shares in the last quarter. Aurdan Capital Management LLC purchased a new position in shares of Sysco in the fourth quarter worth approximately $5,321,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Sysco in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 961 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total value of $77,841.00. Following the transaction, the executive vice president directly owned 41,501 shares in the company, valued at approximately $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were 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 $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,338 shares of company stock valued at $7,439,331 in the last three months. 0.54% of the stock is owned by corporate insiders.

Sysco Price Performance

Shares of NYSE SYY traded down $0.94 during trading hours on Monday, hitting $81.45. 2,391,772 shares of the stock were exchanged, compared to its average volume of 2,871,928. The company has a market cap of $39.48 billion, a PE ratio of 21.84, 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 quick ratio of 0.70 and a current ratio of 1.21. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.24. The company's fifty day simple moving average is $80.19 and its two-hundred day simple moving average is $75.59.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same quarter last year, the business earned $1.39 EPS. The firm's quarterly revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, October 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. Sysco's dividend payout ratio is currently 57.91%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Barclays raised their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Bank of America increased their target price on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Guggenheim boosted their price target on Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $85.69.

About Sysco

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.