PharVision Advisers LLC Acquires New Position in Sysco Corporation $SYY

Key Points

• PharVision Advisers LLC acquired a new position in Sysco Corporation by purchasing 3,667 shares valued at approximately $275,000 during the first quarter.
• Sysco's recent earnings report showed a profit of $1.48 per share, exceeding expectations, with a revenue of $21.14 billion for the quarter.
• The company announced a quarterly dividend of $0.54 per share, representing an annual yield of 2.6%, scheduled to be paid on October 24th.

PharVision Advisers LLC acquired a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,667 shares of the company's stock, valued at approximately $275,000.

A number of other large investors also recently bought and sold shares of SYY. Boston Partners raised its stake in Sysco by 24.8% during the first quarter. Boston Partners now owns 15,199,828 shares of the company's stock worth $1,139,798,000 after purchasing an additional 3,015,714 shares during the period. Canoe Financial LP raised its stake in Sysco by 29,610.4% during the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock worth $107,393,000 after purchasing an additional 1,426,332 shares during the period. Nuveen LLC purchased a new position in Sysco during the first quarter worth approximately $85,341,000. Burgundy Asset Management Ltd. raised its stake in Sysco by 251.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock worth $111,026,000 after purchasing an additional 1,039,088 shares during the period. Finally, Amundi raised its stake in Sysco by 36.5% during the first quarter. Amundi now owns 3,725,508 shares of the company's stock worth $280,941,000 after purchasing an additional 995,498 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Ratings Changes

SYY has been the topic of a number of recent analyst reports. UBS Group set a $90.00 price target on shares of Sysco in a research note on Wednesday, July 30th. Bank of America raised their target price on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Morgan Stanley raised their target price 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 raised shares of Sysco from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Citigroup initiated coverage on shares of Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Sysco has an average rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Price Performance

SYY opened at $82.45 on Friday. The company has a fifty day simple moving average of $79.29 and a 200 day simple moving average of $75.09. The firm has a market cap of $39.97 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 2.55 and a beta of 0.80. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.17. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

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

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is presently 57.91%.

Insiders Place Their Bets

In related news, EVP Ronald L. Phillips sold 7,351 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the completion of the sale, the executive vice president directly owned 41,837 shares of the company's stock, valued at approximately $3,388,797. This trade represents a 14.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction 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 sale, the executive vice president directly owned 56,304 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders have sold 91,377 shares of company stock valued at $7,361,490. Company insiders own 0.54% of the company's stock.

Sysco Profile

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.

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