Hartford Funds Management Co LLC Makes New Investment in Sysco Corporation $SYY

Hartford Funds Management Co LLC acquired a new stake in shares of Sysco Corporation (NYSE:SYY) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,095 shares of the company’s stock, valued at approximately $667,000.

Other hedge funds have also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. purchased a new position in Sysco in the 3rd quarter worth $25,000. Harbor Capital Advisors Inc. grew its stake in Sysco by 75.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. Peterson Wealth Services grew its stake in Sysco by 875.7% during the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company’s stock valued at $30,000 after purchasing an additional 324 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Sysco in the second quarter valued at about $31,000. Finally, Vermillion & White Wealth Management Group LLC raised its stake in shares of Sysco by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock worth $32,000 after purchasing an additional 204 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sysco

In related news, EVP Ronald L. Phillips sold 5,601 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total transaction of $453,681.00. Following the sale, the executive vice president owned 35,965 shares in the company, valued at approximately $2,913,165. This trade represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sheila Talton sold 2,801 shares of Sysco stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $82.99, for a total transaction of $232,454.99. Following the completion of the transaction, the director directly owned 12,868 shares of the company’s stock, valued at $1,067,915.32. The trade was a 17.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.56% of the stock is owned by insiders.

Sysco Stock Down 0.6%

Shares of SYY opened at $85.30 on Monday. The company has a market capitalization of $40.85 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 2.65 and a beta of 0.58. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $91.85. The stock’s 50-day moving average price is $82.35 and its 200-day moving average price is $79.34. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 5.45.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The company had revenue of $20.76 billion during the quarter, compared to analysts’ expectations of $20.80 billion. During the same period last year, the business earned $0.93 earnings per share. Sysco’s quarterly revenue was up 3.0% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, April 2nd. Sysco’s payout ratio is 58.06%.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of research reports. Guggenheim reaffirmed a “buy” rating on shares of Sysco in a report on Thursday. Piper Sandler increased their price target on shares of Sysco from $80.00 to $83.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. UBS Group lifted their price objective on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Truist Financial upped their price objective on shares of Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, Citigroup increased their price objective on shares of Sysco from $81.00 to $88.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus price target of $90.31.

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.