Primecap Management Co. CA Buys Shares of 3,750,929 Sysco Corporation $SYY

Primecap Management Co. CA acquired a new stake in shares of Sysco Corporation (NYSE:SYY) in the second quarter, Holdings Channel reports. The firm acquired 3,750,929 shares of the company’s stock, valued at approximately $313,503,000.

A number of other institutional investors have also recently modified their holdings of SYY. Lloyd Advisory Services LLC. purchased a new position in Sysco in the fourth quarter worth about $25,000. Motiv8 Investments LLC purchased a new stake in shares of Sysco during the fourth quarter valued at approximately $25,000. Sunbelt Securities Inc. increased its position in shares of Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after acquiring an additional 170 shares in the last quarter. Torren Management LLC purchased a new position in Sysco in the 4th quarter worth approximately $27,000. Finally, Bard Associates Inc. bought a new position in Sysco in the 4th quarter valued at approximately $27,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SYY. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Barclays dropped their target price on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Morgan Stanley boosted their target price on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Finally, Piper Sandler raised their price target on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Sysco Trading Down 0.4%

Sysco stock opened at $83.50 on Wednesday. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The firm’s 50 day moving average price is $82.82 and its 200-day moving average price is $80.61. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The stock has a market cap of $40.01 billion, a P/E ratio of 22.81, a PEG ratio of 2.86 and a beta of 0.64.

Sysco (NYSE:SYY) last released 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 business had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. On average, equities analysts predict that Sysco Corporation will post 5.12 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be given a $0.55 dividend. 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 is 60.11%.

Insider Transactions at Sysco

In other news, EVP Ronald L. Phillips sold 506 shares of the 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 in the company, valued at approximately $3,053,560.17. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Insiders have sold a total of 14,508 shares of company stock valued at $1,215,250 over the last ninety days. 0.56% of the stock is owned by company insiders.

Sysco Company 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.