Empowered Funds LLC Makes New $9.37 Million Investment in Sysco Corporation $SYY

Empowered Funds LLC purchased a new stake in Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 112,110 shares of the company’s stock, valued at approximately $9,370,000.

Several other institutional investors have also recently made changes to their positions in SYY. Lloyd Advisory Services LLC. purchased a new stake in shares of Sysco in the fourth quarter worth $25,000. Motiv8 Investments LLC bought a new position in Sysco in the 4th quarter worth about $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Sysco in the 2nd quarter valued at about $29,000. Sunbelt Securities Inc. boosted its position in shares of Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after acquiring an additional 170 shares during the last quarter. Finally, Bard Associates Inc. purchased a new position in shares of Sysco during the fourth quarter worth about $27,000. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In other news, EVP Ronald L. Phillips sold 7,350 shares of Sysco stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the sale, the executive vice president directly owned 38,650 shares in the company, valued at approximately $3,231,526.50. This trade represents a 15.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 three months, insiders sold 14,508 shares of company stock worth $1,215,250. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Morgan Stanley raised their price objective on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Piper Sandler upped their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Citigroup lifted their price target on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Sysco Stock Down 0.6%

Shares of NYSE:SYY opened at $81.95 on Friday. The stock has a market capitalization of $39.26 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 2.80 and a beta of 0.64. The stock’s 50-day moving average price is $83.05 and its 200-day moving average price is $80.59. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The company had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the prior year, the business posted $1.48 EPS. Sysco’s quarterly revenue was up 4.7% compared to the same quarter last year. 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, equities analysts anticipate that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 2nd. Sysco’s payout ratio is currently 60.11%.

Sysco Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.