Public Employees Retirement System of Ohio Acquires Shares of 145,166 Sysco Corporation $SYY

Key Points

• Public Employees Retirement System of Ohio purchased 145,166 Sysco shares in the second quarter, valued at approximately $12.1 million. Institutional investors collectively own 83.41% of the company.
• Sysco reported quarterly earnings of $1.53 per share and revenue of $22.12 billion, exceeding analyst expectations, while revenue increased 4.7% year over year.
• The company declared a quarterly dividend of $0.55 per share, or $2.20 annualized, representing a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $89.50.

Public Employees Retirement System of Ohio bought a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 145,166 shares of the company's stock, valued at approximately $12,133,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SYY. Nicholas Company Inc. bought a new stake in Sysco in the fourth quarter valued at approximately $2,278,000. Norges Bank bought a new position in shares of Sysco during the fourth quarter worth $542,780,000. Banque Cantonale Vaudoise grew its holdings in shares of Sysco by 301.9% in the 1st quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company's stock valued at $1,200,000 after buying an additional 12,641 shares during the period. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Sysco in the 4th quarter valued at $52,672,000. Finally, Parnassus Investments LLC increased its position in shares of Sysco by 1.0% in the 4th quarter. Parnassus Investments LLC now owns 1,611,005 shares of the company's stock valued at $118,715,000 after buying an additional 15,539 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Insider Activity

In other news, EVP Ronald L. Phillips sold 506 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $84.09, for a total value of $42,549.54. Following the sale, the executive vice president owned 36,313 shares of the company's stock, valued at $3,053,560.17. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 have sold 14,508 shares of company stock valued at $1,215,250 in the last 90 days. 0.56% of the stock is owned by company insiders.

Sysco Stock Performance

SYY opened at $81.95 on Monday. The company has a market capitalization of $39.26 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 2.80 and a beta of 0.64. The business's 50-day moving average price is $83.05 and its two-hundred day moving average price is $80.54. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77.

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, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $22.12 billion during the quarter, compared to analysts' expectations of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.Sysco's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Equities analysts expect that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco's dividend payout ratio (DPR) is currently 60.11%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SYY. Melius Research lowered Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. Citigroup lifted their price objective on Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Piper Sandler boosted their price objective on Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Weiss Ratings raised Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 19th. Finally, UBS Group raised their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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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