North Star Asset Management Inc. Makes New Investment in Sysco Corporation $SYY

North Star Asset Management Inc. acquired a new stake in Sysco Corporation (NYSE:SYY) during the second quarter, Holdings Channel reports. The fund acquired 42,439 shares of the company’s stock, valued at approximately $3,547,000.

A number of other large investors also recently bought and sold shares of the stock. Lloyd Advisory Services LLC. acquired a new stake in shares of Sysco during the fourth quarter valued at about $25,000. Motiv8 Investments LLC acquired a new position in Sysco during the 4th quarter worth about $25,000. Sunbelt Securities Inc. boosted its stake in shares of Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 170 shares during the period. Torren Management LLC purchased a new position in Sysco in the 4th quarter valued at approximately $27,000. Finally, Bard Associates Inc. purchased a new position in Sysco in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SYY. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Citigroup upped their price target on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Piper Sandler increased their price target 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. Morgan Stanley lifted 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, Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Nine research 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.50.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 7,350 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the transaction, the executive vice president directly owned 38,650 shares in the company, valued at approximately $3,231,526.50. This represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 valued at $1,215,250 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Sysco Trading Down 1.1%

Shares of Sysco stock opened at $82.35 on Friday. The company has a 50-day moving average of $82.98 and a two-hundred day moving average of $80.58. The stock has a market cap of $39.46 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the previous year, the business posted $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. On average, research analysts anticipate that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. Sysco’s payout ratio is currently 60.11%.

Sysco 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.