Manning & Napier Advisors LLC Invests $1.05 Million in Sysco Corporation $SYY

Manning & Napier Advisors LLC bought a new stake in Sysco Corporation (NYSE:SYY) during the second quarter, HoldingsChannel reports. The firm bought 12,624 shares of the company’s stock, valued at approximately $1,055,000.

A number of other hedge funds have also bought and sold shares of the company. Lloyd Advisory Services LLC. bought a new stake in Sysco in the fourth quarter valued at about $25,000. Motiv8 Investments LLC bought a new position in Sysco during the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. grew its position in shares of Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 170 shares in the last quarter. Torren Management LLC acquired a new position in shares of Sysco in the 4th quarter worth approximately $27,000. Finally, Bard Associates Inc. bought a new stake in shares of Sysco in the 4th quarter valued at approximately $27,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 7,350 shares of Sysco stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $83.61, for a total transaction of $614,533.50. Following the transaction, the executive vice president directly owned 38,650 shares of the company’s stock, valued at $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The transaction 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 sold 14,508 shares of company stock worth $1,215,250 over the last quarter. 0.56% of the stock is owned by insiders.

Sysco Trading Down 0.4%

NYSE:SYY opened at $83.50 on Wednesday. The stock has a market cap of $40.01 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.86 and a beta of 0.64. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The business has a fifty day moving average of $82.82 and a 200-day moving average of $80.61.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. The firm’s quarterly 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. Equities analysts predict that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.6%. Sysco’s dividend payout ratio (DPR) is currently 60.11%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYY. Piper Sandler boosted their target price on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Barclays reduced their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Finally, Citigroup raised their target price on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

About Sysco

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.