Sysco Corporation $SYY Position Lifted by Machina Capital S.A.S.

Machina Capital S.A.S. raised its stake in shares of Sysco Corporation (NYSE:SYY) by 80.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,690 shares of the company’s stock after purchasing an additional 53,905 shares during the quarter. Sysco accounts for 1.2% of Machina Capital S.A.S.’s portfolio, making the stock its 4th largest holding. Machina Capital S.A.S.’s holdings in Sysco were worth $9,409,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SYY. Illinois Municipal Retirement Fund lifted its holdings in shares of Sysco by 5.0% during the third quarter. Illinois Municipal Retirement Fund now owns 210,442 shares of the company’s stock valued at $16,406,000 after acquiring an additional 10,093 shares during the period. Woodley Farra Manion Portfolio Management Inc. grew its holdings in shares of Sysco by 11.0% in the 3rd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 65,669 shares of the company’s stock worth $5,120,000 after purchasing an additional 6,533 shares during the last quarter. Lido Advisors LLC grew its holdings in shares of Sysco by 8.7% in the 3rd quarter. Lido Advisors LLC now owns 24,600 shares of the company’s stock worth $1,918,000 after purchasing an additional 1,974 shares during the last quarter. Keybank National Association OH increased its position in shares of Sysco by 4.2% during the 3rd quarter. Keybank National Association OH now owns 21,017 shares of the company’s stock worth $1,638,000 after purchasing an additional 846 shares in the last quarter. Finally, D.B. Root & Company LLC increased its position in shares of Sysco by 1.9% during the 3rd quarter. D.B. Root & Company LLC now owns 6,974 shares of the company’s stock worth $544,000 after purchasing an additional 131 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Down 1.0%

Shares of NYSE SYY opened at $77.57 on Wednesday. The company’s 50 day simple moving average is $79.75 and its 200 day simple moving average is $80.51. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The firm has a market capitalization of $38.19 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.92 and a beta of 0.66. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.46 and a quick ratio of 0.95.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, November 3rd. The company reported $1.19 EPS for the quarter, hitting analysts’ consensus estimates of $1.19. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $22.02 billion. Sysco had a net margin of 2.12% and a return on equity of 79.24%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 EPS. On average, analysts predict that Sysco Corporation will post 5.06 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is currently 58.51%.

Analyst Ratings Changes

SYY has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Sysco from $95.00 to $92.00 in a report on Wednesday, November 4th. Piper Sandler upped their price objective on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. BMO Capital Markets raised their price objective on shares of Sysco from $90.00 to $98.00 in a report on Wednesday, August 5th. UBS Group raised their price objective on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, DA Davidson lifted their target price on shares of Sysco from $89.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and an average target price of $91.13.

Insider Buying and Selling at Sysco

In related news, EVP Ronald Phillips sold 7,350 shares of Sysco stock in a transaction on Friday, August 21st. The stock was sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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. Also, Director Thomas Gerard Ondrof acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was bought at an average price of $76.62 per share, with a total value of $191,550.00. Following the acquisition, the director directly owned 2,500 shares of the company’s stock, valued at $191,550. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 8,873 shares of company stock worth $741,569 over the last 90 days. 0.55% of the stock is owned by corporate insiders.

Sysco Profile

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries. The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.