35,987 Shares of Sysco Corporation $SYY Acquired by Ninety One North America Inc.

Ninety One North America Inc. acquired a new stake in shares of Sysco Corporation (NYSE:SYY) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 35,987 shares of the company’s stock, valued at approximately $2,806,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC boosted its holdings in shares of Sysco by 7.6% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 5,738 shares of the company’s stock valued at $447,000 after buying an additional 406 shares in the last quarter. Alliance Wealth Advisors LLC grew its position in shares of Sysco by 12.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 4,026 shares of the company’s stock worth $314,000 after buying an additional 453 shares during the period. Columbus Macro LLC increased its stake in shares of Sysco by 5.8% in the 3rd quarter. Columbus Macro LLC now owns 3,579 shares of the company’s stock worth $279,000 after acquiring an additional 197 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in shares of Sysco by 4.3% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 28,298 shares of the company’s stock worth $2,206,000 after acquiring an additional 1,165 shares in the last quarter. Finally, First Citizens Bank & Trust Co. increased its stake in shares of Sysco by 89.0% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 21,857 shares of the company’s stock worth $1,704,000 after acquiring an additional 10,294 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of recent research reports. Wall Street Zen raised shares of Sysco from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Citigroup upped their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, September 29th. Weiss Ratings lowered shares of Sysco from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 28th. Finally, UBS Group lifted their target price on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.42.

Insider Buying and Selling at Sysco

In related news, EVP Ronald Phillips sold 960 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $83.00, for a total transaction of $79,680.00. Following the completion of the sale, the executive vice president owned 49,852 shares of the company’s stock, valued at $4,137,716. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 15,525 shares of company stock worth $1,299,736 over the last ninety days. 0.55% of the stock is owned by company insiders.

Sysco Stock Up 1.7%

Shares of NYSE:SYY traded up $1.34 on Thursday, hitting $82.31. 1,021,329 shares of the company traded hands, compared to its average volume of 4,056,882. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. 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 stock has a 50 day simple moving average of $80.72 and a 200-day simple moving average of $78.87. The company has a market cap of $40.49 billion, a PE ratio of 22.48, a PEG ratio of 2.76 and a beta of 0.64.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The company 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%. Sysco’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm 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. As a group, research analysts expect that Sysco Corporation will post 5.10 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. Sysco’s dividend payout ratio is presently 60.11%.

Sysco Profile

Sysco Corporation is a global foodservice distributor headquartered in Houston, Texas. The company supplies restaurants, hotels, healthcare facilities, educational institutions, government organizations and other foodservice customers with a broad range of products and related services.

Sysco’s offerings include fresh and frozen foods, meat and seafood, dairy products, produce, canned and dry goods, beverages, specialty and international foods, and prepared and ready-to-use items. The company also distributes nonfood products such as kitchen equipment, tableware, cleaning supplies and other operating supplies.