VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $20.47 Million Investment in Sysco Corporation $SYY

Key Points

• Virginia Retirement Systems invested approximately $20.47 million in Sysco Corporation by acquiring 270,200 shares, representing 0.06% of the company at the end of the recent reporting period.
• Several other institutional investors have also increased their positions in Sysco, contributing to a combined 83.41% of the stock being owned by institutional investors and hedge funds.
• Sysco announced a quarterly dividend of $0.54 per share, with the ex-dividend date set for October 3rd, yielding an annualized return of 2.7% based on its current share price.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Sysco Corporation (NYSE:SYY - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 270,200 shares of the company's stock, valued at approximately $20,465,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.06% of Sysco at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chung Wu Investment Group LLC acquired a new position in shares of Sysco in the second quarter worth about $30,000. Golden State Wealth Management LLC boosted its holdings in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after buying an additional 140 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Sysco in the first quarter worth about $33,000. Cheviot Value Management LLC acquired a new position in shares of Sysco in the first quarter worth about $34,000. Finally, 1248 Management LLC acquired a new position in shares of Sysco in the first quarter worth about $35,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares of the company's stock, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 92,338 shares of company stock worth $7,439,331. Insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SYY shares. Weiss Ratings lowered shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Guggenheim increased their price target on shares of Sysco from $87.00 to $89.00 and gave the stock a "buy" rating in a research report on Monday, October 6th. Truist Financial increased their price target on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Barclays increased their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and an average target price of $86.46.

Sysco Price Performance

NYSE SYY opened at $79.92 on Monday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The stock has a market capitalization of $38.24 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82. The company has a 50 day moving average price of $80.73 and a two-hundred day moving average price of $76.56. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. The firm had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company's revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

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

Sysco 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.

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