Sysco Corporation $SYY Shares Purchased by Studio Investment Management LLC

Key Points

• Studio Investment Management LLC increased its stake in Sysco Corporation by 146.4% in the second quarter, now holding 7,386 shares valued at approximately $559,000.
• Equities analysts have upgraded Sysco's stock rating, with a consensus price target set at $87.00 and nine analysts issuing a "Buy" rating.
• Sysco announced a quarterly dividend of $0.54 per share, which translates to an annualized yield of 2.7%, with the ex-dividend date on October 3rd.

Studio Investment Management LLC raised its stake in Sysco Corporation (NYSE:SYY - Free Report) by 146.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,386 shares of the company's stock after buying an additional 4,389 shares during the quarter. Studio Investment Management LLC's holdings in Sysco were worth $559,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Invesco Ltd. lifted its position in shares of Sysco by 1.0% during the first quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock worth $1,280,970,000 after purchasing an additional 162,961 shares in the last quarter. Boston Partners increased its stake in Sysco by 24.8% in the first quarter. Boston Partners now owns 15,199,828 shares of the company's stock valued at $1,139,798,000 after purchasing an additional 3,015,714 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Sysco by 2.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company's stock valued at $551,810,000 after purchasing an additional 146,573 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Sysco by 2.6% in the 1st quarter. Northern Trust Corp now owns 5,828,930 shares of the company's stock valued at $437,403,000 after acquiring an additional 145,477 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Sysco by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company's stock valued at $381,747,000 after purchasing an additional 391,614 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SYY shares. Truist Financial lifted their price objective on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Wall Street Zen raised Sysco from a "hold" rating to a "buy" rating in a report on Saturday, October 11th. Sanford C. Bernstein set a $83.00 target price on Sysco and gave the company a "market perform" rating in a report on Wednesday. Morgan Stanley set a $88.00 target price on Sysco in a report on Tuesday. Finally, Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an "overweight" rating in a report on Tuesday, July 29th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Sysco has an average rating of "Moderate Buy" and a consensus price target of $87.00.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 961 shares of Sysco stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the sale, the executive vice president owned 41,501 shares in the company, valued at approximately $3,361,581. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 14,732 shares of company stock worth $1,193,245. Company insiders own 0.56% of the company's stock.

Sysco Trading Down 0.9%

NYSE:SYY opened at $79.14 on Wednesday. The company has a market capitalization of $37.87 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The stock has a fifty day simple moving average of $80.70 and a 200-day simple moving average of $76.64.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. The business 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 business's revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 3rd. 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.

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