Studio Investment Management LLC Boosts Stock Position in Sysco Corporation $SYY

Studio Investment Management LLC increased its stake in shares of Sysco Corporation (NYSE:SYY) by 146.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,386 shares of the company’s stock after purchasing an additional 4,389 shares during the quarter. Studio Investment Management LLC’s holdings in Sysco were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Advisor Resource Council purchased a new position in shares of Sysco during the 1st quarter worth about $240,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Sysco by 9.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 75,327 shares of the company’s stock worth $5,653,000 after acquiring an additional 6,417 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Sysco by 1.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 49,001 shares of the company’s stock worth $3,677,000 after acquiring an additional 632 shares during the period. Valmark Advisers Inc. purchased a new position in shares of Sysco during the 1st quarter worth about $221,000. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Sysco by 5.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 198,439 shares of the company’s stock worth $14,891,000 after acquiring an additional 10,736 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total value of $595,431.00. Following the transaction, the executive vice president directly owned 41,837 shares of the company’s stock, valued at $3,388,797. This represents a 14.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders sold 14,732 shares of company stock valued at $1,193,245. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SYY has been the topic of several recent analyst reports. Barclays increased their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Citigroup increased their price objective on shares of Sysco from $84.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. UBS Group set a $90.00 target price on Sysco in a report on Wednesday, July 30th. Guggenheim boosted their target price on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Sysco Stock Down 0.9%

NYSE SYY opened at $79.14 on Wednesday. The stock has a market cap of $37.87 billion, a PE ratio of 21.22, a P/E/G ratio of 2.47 and a beta of 0.82. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. The business has a 50 day moving average price of $80.70 and a two-hundred day moving average price of $76.64. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. The firm had revenue of $21.14 billion during the quarter, compared to analysts’ expectations of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.Sysco’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco’s dividend payout ratio is currently 57.91%.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.