2,131,238 Shares of Sysco Corporation $SYY Acquired by Ninety One UK Ltd

Ninety One UK Ltd purchased a new stake in shares of Sysco Corporation (NYSE:SYY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,131,238 shares of the company’s stock, valued at approximately $166,151,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. raised its stake in shares of Sysco by 87.6% during 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 in the last quarter. N.E.W. Advisory Services LLC bought a new position in Sysco in the 2nd quarter valued at about $29,000. Markowski Investments bought a new position in Sysco in the 2nd quarter valued at about $31,000. Evolution Wealth Management Inc. increased its stake in Sysco by 257.6% during the 1st quarter. Evolution Wealth Management Inc. now owns 447 shares of the company’s stock valued at $32,000 after buying an additional 322 shares during the period. Finally, Parvin Asset Management LLC acquired a new position in Sysco during the 2nd quarter valued at about $32,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

NYSE SYY traded up $1.23 on Thursday, reaching $82.20. The company’s stock had a trading volume of 1,038,882 shares, compared to its average volume of 4,057,135. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. 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 stock has a market cap of $40.44 billion, a PE ratio of 22.48, a PEG ratio of 2.76 and a beta of 0.64. The firm’s 50 day moving average is $80.72 and its two-hundred day moving average is $78.87.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The business’s 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. As a group, sell-side analysts predict that Sysco Corporation will post 5.10 EPS for the current year.

Sysco Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on SYY. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Piper Sandler increased their price target on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price target on shares of Sysco in a research note on Wednesday, September 16th. UBS Group lifted their price target on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded Sysco from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.42.

Insider Activity

In other Sysco news, EVP Ronald 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 transaction, the executive vice president owned 38,650 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 a total of 15,525 shares of company stock valued at $1,299,736 over the last quarter. 0.55% of the stock is currently owned by corporate insiders.

Sysco Company Profile

Sysco Corporation is a global foodservice distributor headquartered in Houston, Texas. The company supplies restaurants, hotels, healthcare facilities, educational institutions, government organizations and other foodservice customers with a broad range of products and related services.

Sysco’s offerings include fresh and frozen foods, meat and seafood, dairy products, produce, canned and dry goods, beverages, specialty and international foods, and prepared and ready-to-use items. The company also distributes nonfood products such as kitchen equipment, tableware, cleaning supplies and other operating supplies.