New York Life Investment Management LLC Buys 503 Shares of Sysco Corporation $SYY

New York Life Investment Management LLC grew its stake in shares of Sysco Corporation (NYSE:SYY) by 0.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 72,975 shares of the company’s stock after buying an additional 503 shares during the quarter. New York Life Investment Management LLC’s holdings in Sysco were worth $5,527,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYY. Chung Wu Investment Group LLC bought a new stake in shares of Sysco during the second quarter worth $30,000. Golden State Wealth Management LLC grew its stake in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco in the first quarter worth $33,000. Cheviot Value Management LLC bought a new stake in shares of Sysco in the first quarter worth $34,000. Finally, 1248 Management LLC bought a new stake in shares of Sysco in the first quarter worth $35,000. Institutional investors own 83.41% of the company’s stock.

Insider Activity

In other news, EVP Ronald L. Phillips sold 7,351 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the transaction, the executive vice president owned 41,837 shares in the company, valued at approximately $3,388,797. This represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 14,732 shares of company stock worth $1,193,245. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. UBS Group set a $90.00 price objective on shares of Sysco in a research note on Wednesday, July 30th. Sanford C. Bernstein assumed coverage on shares of Sysco in a research note on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price objective on the stock. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Finally, Guggenheim boosted their price objective on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.31.

Sysco Price Performance

SYY stock opened at $74.26 on Thursday. The firm has a market cap of $35.54 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.24 and a beta of 0.82. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 5.54. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The company’s fifty day simple moving average is $80.30 and its 200 day simple moving average is $77.00.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. The business had revenue of $21.15 billion for the quarter, compared to analyst estimates of $21.03 billion. Sysco had a net margin of 2.21% and a return on equity of 112.04%. Sysco’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 3rd were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, October 3rd. Sysco’s payout ratio is presently 57.91%.

About Sysco

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.