VIRGINIA RETIREMENT SYSTEMS ET Al Invests $70.07 Million in Sysco Corporation $SYY

Key Points

• Virginia Retirement Systems purchased 838,400 Sysco shares worth approximately $70.07 million, while institutional investors collectively own 83.41% of the company.
• Sysco exceeded quarterly expectations with $1.53 in EPS and $22.12 billion in revenue, up 4.7% year over year. The company also declared a quarterly dividend of $0.55 per share, yielding about 2.7% annually.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $89.50, compared with the stock’s reported opening price of $80.10.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 838,400 shares of the company's stock, valued at approximately $70,073,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.18% of Sysco at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Lloyd Advisory Services LLC. purchased a new stake in Sysco during the 4th quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new stake in shares of Sysco during the 4th quarter worth $25,000. Sunbelt Securities Inc. increased its stake in Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock valued at $26,000 after purchasing an additional 170 shares during the last quarter. Bard Associates Inc. acquired a new position in Sysco during the fourth quarter worth approximately $27,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $28,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Ronald Phillips sold 506 shares of Sysco stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $84.09, for a total value of $42,549.54. Following the sale, the executive vice president directly 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 legal filing with the SEC, which is available at this link. 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. Over the last 90 days, insiders sold 14,508 shares of company stock worth $1,215,250. 0.56% of the stock is currently owned by company insiders.

Sysco Stock Up 0.1%

NYSE SYY opened at $80.10 on Monday. The stock has a market capitalization of $38.38 billion, a PE ratio of 21.89, a PEG ratio of 2.73 and a beta of 0.63. The business has a fifty day moving average price of $83.13 and a two-hundred day moving average price of $80.26. 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 Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 EPS. 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 earnings per share for the current fiscal year.

Sysco Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SYY shares. Weiss Ratings upgraded Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 19th. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research report on Sunday. Morgan Stanley boosted their price objective on shares of Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. UBS Group increased their price objective on Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Finally, Piper Sandler raised their target price on Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $89.50.

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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