MAI Capital Management Acquires 39,517 Shares of Sysco Corporation $SYY

MAI Capital Management grew its holdings in shares of Sysco Corporation (NYSE:SYY) by 389.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 49,674 shares of the company’s stock after acquiring an additional 39,517 shares during the quarter. MAI Capital Management’s holdings in Sysco were worth $4,090,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC boosted its stake in Sysco by 594.8% during the third quarter. Gateway Investment Advisers LLC now owns 85,622 shares of the company’s stock worth $7,050,000 after buying an additional 73,298 shares during the period. Norges Bank bought a new stake in shares of Sysco in the 2nd quarter worth about $493,686,000. AE Wealth Management LLC boosted its stake in shares of Sysco by 320.9% during the 3rd quarter. AE Wealth Management LLC now owns 79,589 shares of the company’s stock worth $6,553,000 after purchasing an additional 60,680 shares during the period. Krilogy Financial LLC grew its holdings in Sysco by 65.6% during the 3rd quarter. Krilogy Financial LLC now owns 42,435 shares of the company’s stock valued at $3,494,000 after purchasing an additional 16,807 shares during the last quarter. Finally, Accurate Wealth Management LLC purchased a new stake in Sysco in the 3rd quarter worth about $2,497,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYY shares. JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Jefferies Financial Group boosted their price target on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Wells Fargo & Company boosted their price objective on shares of Sysco from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Finally, Truist Financial increased their price target on Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $90.31.

Insider Activity at Sysco

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

Sysco Price Performance

Shares of SYY opened at $89.13 on Friday. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.30 and a quick ratio of 0.75. The company’s fifty day moving average price is $80.70 and its 200-day moving average price is $79.04. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $91.85. The firm has a market capitalization of $42.69 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.77 and a beta of 0.61.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $20.76 billion during the quarter, compared to analyst estimates of $20.80 billion. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, equities research 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. Investors of record on Thursday, April 2nd will be given a $0.54 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 2.4%. Sysco’s dividend payout ratio is currently 58.06%.

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.