Sanctuary Advisors LLC Invests $6.66 Million in Sysco Corporation $SYY

Sanctuary Advisors LLC bought a new stake in shares of Sysco Corporation (NYSE:SYY) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 79,686 shares of the company’s stock, valued at approximately $6,660,000.

Several other large investors have also added to or reduced their stakes in SYY. Nicholas Company Inc. acquired a new stake in Sysco in the fourth quarter worth $2,278,000. Norges Bank acquired a new position in shares of Sysco during the fourth quarter valued at about $542,780,000. Banque Cantonale Vaudoise boosted its position in shares of Sysco by 301.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock worth $1,200,000 after purchasing an additional 12,641 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Sysco during the 4th quarter worth about $52,672,000. Finally, Parnassus Investments LLC grew its stake in shares of Sysco by 1.0% in the 4th quarter. Parnassus Investments LLC now owns 1,611,005 shares of the company’s stock valued at $118,715,000 after buying an additional 15,539 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Weiss Ratings raised Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Sanford C. Bernstein decreased their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Morgan Stanley upped their target price on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, Citigroup lifted their price target on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 367 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $83.39, for a total transaction of $30,604.13. Following the sale, the executive vice president directly owned 38,650 shares of the company’s stock, valued at $3,223,023.50. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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. 0.56% of the stock is currently owned by company insiders.

Sysco Price Performance

Shares of NYSE SYY opened at $83.86 on Tuesday. The company has a market capitalization of $40.15 billion, a PE ratio of 22.91, a PEG ratio of 2.87 and a beta of 0.64. 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’s 50 day moving average price is $82.74 and its 200-day moving average price is $80.62. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The firm had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period last year, the firm posted $1.48 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. 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 anticipate that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Dividend Announcement

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 given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco’s dividend payout ratio is currently 60.11%.

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.