OceanIQ Capital LLC Takes Position in Sysco Corporation $SYY

OceanIQ Capital LLC acquired a new position in shares of Sysco Corporation (NYSE:SYY) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 7,730 shares of the company’s stock, valued at approximately $651,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lloyd Advisory Services LLC. bought a new position in shares of Sysco during the fourth quarter valued at about $25,000. Motiv8 Investments LLC bought a new stake in Sysco in the 4th quarter worth about $25,000. Sunbelt Securities Inc. increased its stake in Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 170 shares during the last quarter. Bard Associates Inc. purchased a new stake in Sysco in the 4th quarter valued at about $27,000. Finally, Elyxium Wealth LLC bought a new position in shares of Sysco during the 4th quarter worth approximately $28,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of NYSE:SYY opened at $80.10 on Friday. The company has a 50 day moving average of $83.13 and a 200 day moving average of $80.33. The stock has a market cap of $38.38 billion, a P/E ratio of 21.89, a P/E/G ratio of 2.77 and a beta of 0.63. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. 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 (NYSE:SYY) last posted its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the prior year, the company posted $1.48 EPS. The business’s revenue for the quarter 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. As a group, sell-side analysts forecast that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be given 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 payout ratio is presently 60.11%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYY. Citigroup boosted their price objective on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Piper Sandler lifted their target price on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. UBS Group lifted their target price on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.50.

Insider Buying and Selling

In other Sysco news, EVP Ronald Phillips sold 7,350 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the transaction, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,231,526.50. The trade was a 15.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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. Over the last three months, insiders have sold 14,508 shares of company stock valued at $1,215,250. 0.56% of the stock is owned by insiders.

Sysco Company 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.