Stoneridge Investment Partners LLC Takes $1.14 Million Position in Sysco Corporation $SYY

Key Points

• Stoneridge Investment Partners acquired 13,330 Sysco shares worth approximately $1.14 million, while 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; revenue increased 4.7% year over year.
• Sysco shares were trading at $82.94, below the analyst consensus price target of $89.50. Analyst sentiment was mixed, with eight Buy, seven Hold, and one Sell rating.

Stoneridge Investment Partners LLC acquired a new position in Sysco Corporation (NYSE:SYY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 13,330 shares of the company's stock, valued at approximately $1,136,000. Sysco accounts for 0.7% of Stoneridge Investment Partners LLC's holdings, making the stock its 26th largest position.

Several other institutional investors also recently bought and sold shares of SYY. Vanguard Group Inc. increased its stake in Sysco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company's stock worth $4,591,281,000 after purchasing an additional 814,270 shares during the period. State Street Corp boosted its stake in shares of Sysco by 0.9% during the third quarter. State Street Corp now owns 26,669,576 shares of the company's stock valued at $2,195,973,000 after purchasing an additional 246,542 shares during the period. Geode Capital Management LLC boosted its stake in shares of Sysco by 1.0% during 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 bought a new position in shares of Sysco in the fourth quarter worth approximately $542,780,000. Finally, Morgan Stanley increased its stake in shares of Sysco by 9.0% in the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company's stock worth $446,444,000 after buying an additional 500,881 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Down 0.7%

Shares of Sysco stock opened at $82.94 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The company's fifty day simple moving average is $82.21 and its two-hundred day simple moving average is $80.62. The company has a market cap of $39.71 billion, a P/E ratio of 22.66, a PEG ratio of 2.84 and a beta of 0.64. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $21.95 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Research analysts anticipate that Sysco Corporation will post 5.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SYY shares. Sanford C. Bernstein dropped their price target 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. UBS Group boosted their price objective on shares of Sysco from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Morgan Stanley upped their price objective on shares of Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, Citigroup raised their target price on Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Eight equities 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $89.50.

Insider Activity

In other news, Director John M. Hinshaw bought 13,304 shares of Sysco stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the acquisition, the director owned 40,200 shares of the company's stock, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ronald L. Phillips sold 367 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $83.39, for a total value of $30,604.13. Following the completion of the transaction, the executive vice president directly owned 38,650 shares of the company's stock, valued at $3,223,023.50. This represents a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 Profile

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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