OMERS ADMINISTRATION Corp Buys Shares of 28,902 Sysco Corporation $SYY

Key Points

• OMERS Administration Corp. acquired 28,902 Sysco shares worth approximately $2.4 million in the second quarter. Institutional investors collectively own 83.41% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $89.50; nine analysts rate Sysco a Buy, six rate it a Hold, and one rates it a Sell.
• Sysco recently beat quarterly earnings and revenue estimates, reporting $1.53 in EPS and $22.12 billion in revenue. The company also declared a quarterly dividend of $0.55 per share, representing a 2.6% annualized yield.

OMERS ADMINISTRATION Corp purchased a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 28,902 shares of the company's stock, valued at approximately $2,416,000.

Other large investors have also modified their holdings of the company. Nicholas Company Inc. acquired a new position in Sysco during the 4th quarter worth $2,278,000. Norges Bank acquired a new position in shares of Sysco during the fourth quarter valued at $542,780,000. Banque Cantonale Vaudoise raised its stake in shares of Sysco by 301.9% during the first quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company's stock valued at $1,200,000 after purchasing an additional 12,641 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Sysco during the fourth quarter valued at about $52,672,000. Finally, Parnassus Investments LLC lifted its holdings in Sysco by 1.0% in the fourth quarter. Parnassus Investments LLC now owns 1,611,005 shares of the company's stock worth $118,715,000 after purchasing an additional 15,539 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity at Sysco

In related news, EVP Ronald L. Phillips sold 506 shares of Sysco 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 transaction, the executive vice president owned 36,313 shares of the company's stock, valued at approximately $3,053,560.17. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 over the last three months. Corporate insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. UBS Group upped their price target on shares of Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Sanford C. Bernstein decreased their price objective on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a research note on Tuesday, April 28th. Finally, Piper Sandler boosted their target price on Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Sysco has a consensus rating of "Moderate Buy" and a consensus target price of $89.50.

Sysco Price Performance

Shares of Sysco stock opened at $83.50 on Wednesday. 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 company's 50-day moving average price is $82.82 and its two-hundred day moving average price is $80.61. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The stock has a market cap of $40.01 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 2.86 and a beta of 0.64.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share 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 company had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the firm posted $1.48 EPS. The business's revenue for the quarter was up 4.7% on a year-over-year basis. 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, sell-side analysts anticipate that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Announces Dividend

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

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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