37,235 Shares in Sysco Corporation $SYY Bought by Eliot Finkel Investment Counsel LLC

Eliot Finkel Investment Counsel LLC purchased a new stake in Sysco Corporation (NYSE:SYY) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 37,235 shares of the company’s stock, valued at approximately $2,903,000. Sysco comprises 1.5% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its 26th largest holding.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Sysco during the second quarter worth $3,596,356,000. Bank of America Corp DE acquired a new stake in Sysco in the second quarter valued at $482,589,000. Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 59,685 shares during the period. Primecap Management Co. CA bought a new position in Sysco during the 2nd quarter worth $313,503,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Sysco in the 2nd quarter worth approximately $273,323,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 2.1%

NYSE:SYY traded up $1.61 on Friday, hitting $76.85. The stock had a trading volume of 6,888,690 shares, compared to its average volume of 2,805,662. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The business’s fifty day moving average is $79.89 and its 200 day moving average is $80.50. The company has a market cap of $37.80 billion, a PE ratio of 20.44, a P/E/G ratio of 2.30 and a beta of 0.66.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $1.19 earnings per share for the quarter, meeting the consensus estimate of $1.19. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The business had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $22.02 billion. During the same period last year, the business earned $1.15 EPS. The business’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Sysco Corporation will post 5.07 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 2nd were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, October 2nd. Sysco’s payout ratio is presently 58.51%.

Insider Transactions at Sysco

In related news, Director Thomas Gerard Ondrof purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were purchased 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 approximately $191,550. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 960 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $83.00, for a total transaction of $79,680.00. Following the completion of the transaction, the executive vice president owned 49,852 shares of the company’s stock, valued at $4,137,716. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 15,525 shares of company stock worth $1,299,736 in the last three months. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank of America lifted their price objective on Sysco from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Piper Sandler lifted their target price on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Guggenheim restated a “buy” rating and set a $90.00 price target on shares of Sysco in a report on Wednesday, September 16th. 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 research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Sysco from $86.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.13.

Key Headlines Impacting Sysco

Here are the key news stories impacting Sysco this week:

• Positive Sentiment: Director Thomas Gerard Ondrof purchased 2,500 shares at an average price of $76.62, a modest sign of insider confidence. Director stock purchase
• Neutral Sentiment: Citigroup lowered its price target from $87 to $84 and maintained a Hold/neutral rating. The target still implies potential upside from the cited share price, but the reduction reflects more restrained expectations. Citi rating
• Negative Sentiment: JPMorgan also lowered its expectations for SYY, adding to a cautious analyst tone. JPMorgan expectations
• Negative Sentiment: Sysco’s latest quarterly revenue of $21.74 billion fell short of analyst estimates, although earnings per share matched expectations at $1.19 and revenue grew 2.8% year over year. Recent trading and results context
• Negative Sentiment: The proposed $29.1 billion Jetro Restaurant Depot acquisition is still awaiting FTC clearance; regulatory and cost exposure has drawn investor scrutiny and could add uncertainty. Acquisition investigation notice

About Sysco

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.

Sysco serves customers across the United States and in international markets, including Canada and parts of Europe.