Sawyer & Company Inc Makes New Investment in Sysco Corporation $SYY

Sawyer & Company Inc purchased a new position in shares of Sysco Corporation (NYSE:SYY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 36,051 shares of the company’s stock, valued at approximately $2,811,000.

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

Sysco Stock Down 1.1%

Shares of Sysco stock traded down $0.88 during trading on Wednesday, reaching $82.02. The company had a trading volume of 967,385 shares, compared to its average volume of 4,023,172. 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 Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The firm’s fifty day moving average is $80.57 and its 200-day moving average is $79.10. The company has a market cap of $40.35 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, analysts anticipate that Sysco Corporation will post 5.10 EPS for the current year.

Sysco Dividend Announcement

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

Wall Street Analyst Weigh In

SYY has been the subject of a number of analyst reports. Piper Sandler increased their price target on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Citigroup lifted their price objective on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. cut their target price 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, Weiss Ratings raised Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 15th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $90.42.

Insider Buying and Selling

In other Sysco news, EVP Ronald Phillips sold 7,350 shares of the stock in a transaction that occurred on 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 owned 38,650 shares of the company’s stock, valued at $3,231,526.50. This trade represents a 15.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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. Over the last 90 days, insiders sold 15,525 shares of company stock worth $1,299,736. Company insiders own 0.55% of the company’s stock.

Sysco Company Profile

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.