Price T Rowe Associates Inc. MD Boosts Position in Sysco Corporation $SYY

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Sysco Corporation by 0.9%, owning over 1 million shares valued at approximately $75.18 million as of the latest filing.
• Sysco recently reported Q1 earnings of $1.48 EPS, exceeding estimates, with revenue hitting $21.14 billion, a year-over-year increase of 2.8%.
• The company declared a $0.54 quarterly dividend, set to be paid out on October 24th, resulting in an annualized yield of 2.7% based on a 57.91% payout ratio.

Price T Rowe Associates Inc. MD boosted its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,001,913 shares of the company's stock after purchasing an additional 9,269 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.21% of Sysco worth $75,184,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rialto Wealth Management LLC boosted its position in Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 217 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in Sysco during the fourth quarter worth $29,000. Golden State Wealth Management LLC boosted its position in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after purchasing an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Sysco during the first quarter worth $33,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Sysco in the fourth quarter valued at $34,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. UBS Group set a $90.00 price objective on Sysco in a research report on Wednesday, July 30th. Guggenheim upped their price objective on Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Morgan Stanley upped their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Citigroup assumed coverage on Sysco in a research report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective on the stock. Finally, Wells Fargo & Company set a $88.00 price objective on Sysco and gave the company an "overweight" rating in a research report on Tuesday, July 29th. 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.69.

Sysco Stock Performance

Sysco stock opened at $79.3370 on Tuesday. The firm has a market capitalization of $38.46 billion, a P/E ratio of 21.27, a PEG ratio of 2.49 and a beta of 0.83. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The stock has a fifty day moving average price of $78.23 and a 200 day moving average price of $74.49. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.64.

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

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.7%. Sysco's dividend payout ratio is currently 57.91%.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ronald L. Phillips sold 6,286 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $81.00, for a total value of $509,166.00. Following the sale, the executive vice president owned 34,404 shares of the company's stock, valued at $2,786,724. This represents a 15.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,026 shares of company stock valued at $6,766,059 over the last 90 days. 0.54% of the stock is currently owned by insiders.

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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