Sysco Corporation $SYY Stock Acquired by Vise Technologies Inc.

Vise Technologies Inc. boosted its stake in Sysco Corporation (NYSE:SYY) by 367.2% in the 3rd quarter, Holdings Channel reports. The firm owned 101,610 shares of the company’s stock after acquiring an additional 79,860 shares during the quarter. Vise Technologies Inc.’s holdings in Sysco were worth $7,922,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Sysco during the second quarter valued at about $3,596,356,000. Bank of America Corp DE purchased a new stake in shares of Sysco in the second quarter worth about $482,589,000. Dimensional Fund Advisors LP boosted its position in shares of Sysco by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,667,412 shares of the company’s stock valued at $332,871,000 after acquiring an additional 59,685 shares during the period. Primecap Management Co. CA bought a new stake in Sysco during the 2nd quarter worth approximately $313,503,000. Finally, Bank of New York Mellon Corp purchased a new stake in Sysco in the 2nd quarter worth approximately $273,323,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Citigroup restated a “neutral” rating on shares of Sysco in a research report on Monday, October 26th. Guggenheim reiterated a “buy” rating and issued a $90.00 price objective on shares of Sysco in a research report on Wednesday, September 16th. JPMorgan Chase & Co. lowered their price objective on Sysco from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 29th. Finally, Morgan Stanley lifted their price objective on Sysco from $88.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.42.

Sysco Stock Performance

NYSE SYY opened at $81.76 on Tuesday. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a fifty day moving average of $80.49 and a 200-day moving average of $80.54. The company has a market capitalization of $40.22 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.31 and a beta of 0.64. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The business had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts predict that Sysco Corporation will post 5.09 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, October 2nd. Sysco’s dividend payout ratio is presently 60.11%.

Insider Activity

In other news, EVP Ronald Phillips sold 7,350 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $83.61, for a total transaction of $614,533.50. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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. In the last three months, insiders sold 15,525 shares of company stock valued at $1,299,736. 0.55% of the stock is currently owned by corporate insiders.

About Sysco

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.