Sysco Corporation $SYY Shares Acquired by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Sysco Corporation by 17.4% in Q1, bringing its total shares to 43,491, valued at approximately $3.26 million.
• Sysco's stock received several new price targets from analysts, with upgrades from Guggenheim to $87.00 and from Truist Financial to $90.00, contributing to a consensus rating of "Moderate Buy" with a target price of $85.69.
• The company announced a quarterly dividend of $0.54 per share, which will be paid on October 24th, providing a dividend yield of 2.7% based on an annualized payout of $2.16.

OMERS ADMINISTRATION Corp boosted its position in Sysco Corporation (NYSE:SYY - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,491 shares of the company's stock after acquiring an additional 6,457 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Sysco were worth $3,264,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. AG grew its stake in shares of Sysco by 32.6% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 86,234 shares of the company's stock worth $6,471,000 after purchasing an additional 21,212 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Sysco during the 1st quarter worth about $10,965,000. Islay Capital Management LLC purchased a new position in shares of Sysco in the 1st quarter valued at about $1,291,000. Sunriver Management LLC acquired a new position in Sysco in the first quarter valued at approximately $19,543,000. Finally, Synovus Financial Corp increased its stake in Sysco by 4.5% in the first quarter. Synovus Financial Corp now owns 3,681 shares of the company's stock valued at $276,000 after purchasing an additional 157 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

Sysco stock traded up $0.34 during midday trading on Wednesday, reaching $80.89. The company's stock had a trading volume of 2,844,809 shares, compared to its average volume of 3,286,876. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.64. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The stock's 50 day simple moving average is $78.87 and its 200 day simple moving average is $74.85. The firm has a market capitalization of $39.21 billion, a PE ratio of 21.68, a P/E/G ratio of 2.49 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last announced 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. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter last year, the business posted $1.39 earnings per share. The business's revenue for the quarter was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is 57.91%.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYY. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Citigroup started coverage on Sysco in a research report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price for the company. Truist Financial boosted their price objective on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Finally, Guggenheim raised their price objective on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,026 shares of company stock valued at $6,766,059. Insiders own 0.54% of the company's stock.

Sysco Company 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.