Trillium Asset Management LLC Makes New Investment in Sysco Corporation $SYY

Key Points

• Trillium Asset Management purchased 101,542 Sysco shares worth approximately $8.49 million in the second quarter. Institutional investors collectively own 83.41% of Sysco.
• Sysco reported quarterly earnings of $1.53 per share and revenue of $22.12 billion, exceeding analyst estimates, while revenue increased 4.7% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $89.50. Sysco also declared a quarterly dividend of $0.55 per share, representing a 2.6% annualized yield.

Trillium Asset Management LLC purchased a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 101,542 shares of the company's stock, valued at approximately $8,487,000.

Several other institutional investors also recently modified their holdings of SYY. Teacher Retirement System of Texas boosted its holdings in Sysco by 8.0% in the fourth quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company's stock worth $27,307,000 after purchasing an additional 27,510 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Sysco by 9.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company's stock valued at $30,445,000 after buying an additional 35,647 shares during the period. Nicholas Company Inc. purchased a new position in shares of Sysco in the 4th quarter worth $2,278,000. Norges Bank purchased a new stake in Sysco during the fourth quarter valued at $542,780,000. Finally, Banque Cantonale Vaudoise lifted its holdings in Sysco by 301.9% in the first quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company's stock valued at $1,200,000 after acquiring an additional 12,641 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 367 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $83.39, for a total transaction of $30,604.13. Following the completion of the transaction, the executive vice president owned 38,650 shares in the company, valued at approximately $3,223,023.50. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Also, Director John M. Hinshaw bought 13,304 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares of the company's stock, valued at $3,021,834. This represents a 49.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SYY shares. Citigroup upped their price target on shares of Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research report on Tuesday, April 28th. Weiss Ratings raised shares of Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. Morgan Stanley raised their target price on Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Finally, Piper Sandler boosted their price target on Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and an average price target of $89.50.

Sysco Price Performance

NYSE:SYY opened at $83.21 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The business's 50-day simple moving average is $82.55 and its two-hundred day simple moving average is $80.62. The stock has a market cap of $39.84 billion, a PE ratio of 22.74, a P/E/G ratio of 2.82 and a beta of 0.64. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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. As a group, analysts forecast that Sysco Corporation will post 5.1 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco's dividend payout ratio (DPR) is 60.11%.

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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