Plancorp LLC Purchases New Position in Sysco Corporation $SYY

Key Points

• Plancorp LLC has acquired a new position in Sysco Corporation, purchasing 3,941 shares worth approximately $296,000 during the first quarter of the year.
• Sysco reported a quarterly earnings per share (EPS) of $1.48, surpassing analysts' expectations of $1.39, with revenue reaching $21.14 billion.
• The firm has announced a quarterly dividend of $0.54 per share, which will be paid on October 24th, reflecting an annualized dividend yield of 2.6%.

Plancorp LLC purchased a new stake in Sysco Corporation (NYSE:SYY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,941 shares of the company's stock, valued at approximately $296,000.

A number of other large investors also recently modified their holdings of SYY. Boston Partners lifted its stake in shares of Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company's stock valued at $1,139,798,000 after acquiring an additional 3,015,714 shares during the last quarter. Canoe Financial LP lifted its stake in shares of Sysco by 29,610.4% in the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after acquiring an additional 1,426,332 shares during the last quarter. Nuveen LLC acquired a new stake in Sysco in the first quarter valued at $85,341,000. Burgundy Asset Management Ltd. increased its holdings in Sysco by 251.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock valued at $111,026,000 after purchasing an additional 1,039,088 shares during the period. Finally, Amundi increased its holdings in Sysco by 36.5% in the first quarter. Amundi now owns 3,725,508 shares of the company's stock valued at $280,941,000 after purchasing an additional 995,498 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Ronald L. Phillips sold 7,351 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total value of $595,431.00. Following the transaction, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,377 shares of company stock valued at $7,361,490. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on SYY shares. JPMorgan Chase & Co. increased their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Bank of America increased their price objective on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday, July 18th. Citigroup started coverage on Sysco in a report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective for the company. Morgan Stanley increased their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company set a $88.00 price objective on Sysco and gave the company an "overweight" rating in a report on Tuesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $85.69.

Sysco Stock Down 0.4%

Shares of SYY traded down $0.32 during trading hours on Friday, hitting $80.73. The stock had a trading volume of 650,443 shares, compared to its average volume of 3,250,652. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $79.61 and a 200-day simple moving average of $75.30. The firm has a market capitalization of $39.13 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 2.48 and a beta of 0.80. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.17.

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

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a $0.54 dividend. 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 (DPR) is currently 57.91%.

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.