OMERS ADMINISTRATION Corp Buys Shares of 28,902 Sysco Corporation $SYY

OMERS ADMINISTRATION Corp purchased a new position in Sysco Corporation (NYSE:SYY) in the second quarter, Holdings Channel reports. The fund purchased 28,902 shares of the company’s stock, valued at approximately $2,416,000.

Several other institutional investors have also made changes to their positions in the stock. Intech Investment Management LLC boosted its position in Sysco by 53.1% during the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after purchasing an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after purchasing an additional 2,000 shares in the last quarter. NewEdge Advisors LLC increased its position in Sysco by 62.4% in the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after purchasing an additional 13,616 shares during the last quarter. Sei Investments Co. raised its stake in shares of Sysco by 14.2% during the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock worth $26,092,000 after purchasing an additional 42,903 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock worth $17,166,000 after purchasing an additional 1,710 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Trading Down 0.4%

Sysco stock opened at $83.50 on Wednesday. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The business’s 50-day simple moving average is $82.82 and its 200-day simple moving average is $80.61. The firm has a market capitalization of $40.01 billion, a PE ratio of 22.81, a PEG ratio of 2.86 and a beta of 0.64. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85.

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

Sysco Announces Dividend

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

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 7,350 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the transaction, the executive vice president directly owned 38,650 shares in the company, valued at $3,231,526.50. This represents a 15.98% decrease in their position. 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. Insiders have sold a total of 14,508 shares of company stock worth $1,215,250 over the last 90 days. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SYY. Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research note on Tuesday, April 28th. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Piper Sandler boosted their price target on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.50.

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.