Pallas Capital Advisors LLC Buys New Stake in Sysco Corporation $SYY

Key Points

• Pallas Capital Advisors acquired 15,244 Sysco shares during the second quarter, valued at approximately $1.27 million. Institutional investors collectively own 83.41% of the company.
• Sysco exceeded quarterly expectations, reporting $1.53 in earnings per share and $22.12 billion in revenue, with sales up 4.7% year over year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $89.50, while Sysco shares recently traded near $82.07.

Pallas Capital Advisors LLC purchased a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,244 shares of the company's stock, valued at approximately $1,274,000.

A number of other large investors have also modified their holdings of SYY. Vanguard Group Inc. boosted its stake in shares of Sysco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company's stock worth $4,591,281,000 after acquiring an additional 814,270 shares in the last quarter. State Street Corp boosted its position in Sysco by 0.9% during the third quarter. State Street Corp now owns 26,669,576 shares of the company's stock worth $2,195,973,000 after purchasing an additional 246,542 shares in the last quarter. Geode Capital Management LLC grew its holdings in Sysco by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock valued at $934,391,000 after purchasing an additional 131,659 shares during the period. Norges Bank acquired a new stake in Sysco in the fourth quarter valued at approximately $542,780,000. Finally, Morgan Stanley increased its position in shares of Sysco by 9.0% in the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company's stock valued at $446,444,000 after buying an additional 500,881 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Buying and Selling

In related news, Director John M. Hinshaw purchased 13,304 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director owned 40,200 shares in the company, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ronald L. Phillips sold 6,285 shares of Sysco stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $83.94, for a total value of $527,562.90. Following the transaction, the executive vice president owned 39,970 shares in the company, valued at approximately $3,355,081.80. The trade was a 13.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Company insiders own 0.56% of the company's stock.

Sysco Price Performance

Sysco stock opened at $82.07 on Wednesday. The company has a fifty day simple moving average of $82.40 and a 200-day simple moving average of $80.63. The firm has a market capitalization of $39.29 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.84 and a beta of 0.64. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping 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 the consensus estimate of $21.95 billion. During the same period last year, the firm posted $1.48 earnings per share. The company'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. On average, equities analysts anticipate that Sysco Corporation will post 5.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Sanford C. Bernstein reduced their price objective on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a research report on Wednesday, April 29th. Piper Sandler increased their price objective on shares of Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Melius Research lowered shares of Sysco from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Finally, Citigroup upped their price target on shares of Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $89.50.

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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