Sysco Corporation $SYY Shares Bought by Lmcg Investments LLC

Lmcg Investments LLC boosted its position in shares of Sysco Corporation (NYSE:SYY) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 145,367 shares of the company’s stock after acquiring an additional 6,396 shares during the period. Lmcg Investments LLC’s holdings in Sysco were worth $11,333,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Sysco in the second quarter worth approximately $3,596,356,000. Bank of America Corp DE bought a new stake in shares of Sysco during the 2nd quarter valued at $482,589,000. Primecap Management Co. CA bought a new stake in shares of Sysco during the 2nd quarter valued at $313,503,000. Bank of New York Mellon Corp bought a new stake in shares of Sysco during the 2nd quarter valued at $273,323,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Sysco during the 2nd quarter valued at $203,861,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SYY. Morgan Stanley upped their target price on shares of Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. UBS Group raised their price target on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 15th. Melius Research downgraded Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Sysco in a research note on Wednesday, September 16th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.42.

Sysco Stock Performance

SYY opened at $82.00 on Thursday. The stock has a market capitalization of $40.34 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.84 and a beta of 0.64. The company has a fifty day moving average of $80.52 and a 200 day moving average of $79.18. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. 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 announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 EPS. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, sell-side analysts forecast that Sysco Corporation will post 5.10 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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

Insider Activity

In other news, EVP Ronald Phillips sold 960 shares of Sysco stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $83.00, for a total value of $79,680.00. Following the sale, the executive vice president directly owned 49,852 shares of the company’s stock, valued at approximately $4,137,716. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sold 15,525 shares of company stock valued at $1,299,736 over the last quarter. Insiders own 0.55% of the company’s stock.

Sysco 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.