Quartz Partners LLC Buys New Stake in Sysco Corporation $SYY

Quartz Partners LLC purchased a new stake in shares of Sysco Corporation (NYSE:SYY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,487 shares of the company’s stock, valued at approximately $542,000.

Several other institutional investors have also bought and sold shares of the business. Intech Investment Management LLC grew its stake in shares of Sysco by 53.1% in the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock worth $1,674,000 after buying an additional 7,742 shares in the last quarter. Schnieders Capital Management LLC. raised its position in shares of Sysco by 24.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after buying an additional 2,000 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Sysco by 62.4% during the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock valued at $2,685,000 after buying an additional 13,616 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Sysco by 14.2% in the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock valued at $26,092,000 after acquiring an additional 42,903 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Sysco by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after acquiring an additional 1,710 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 6,285 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $83.94, for a total value of $527,562.90. Following the completion of the sale, the executive vice president owned 39,970 shares in the company, valued at approximately $3,355,081.80. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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. Also, Director John M. Hinshaw acquired 13,304 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the purchase, the director owned 40,200 shares of the company’s stock, valued at $3,021,834. This represents a 49.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SYY. Weiss Ratings reissued a “hold (c+)” rating on shares of Sysco in a research note on Friday, June 26th. Barclays lowered their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Citigroup lifted their target price on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Morgan Stanley increased their price target on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $89.50.

Sysco Trading Up 0.8%

NYSE SYY opened at $82.58 on Thursday. The stock has a market cap of $39.53 billion, a PE ratio of 22.56, a PEG ratio of 2.81 and a beta of 0.64. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The company’s 50-day moving average price is $82.48 and its 200-day moving average price is $80.62. 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 announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $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. Equities research analysts forecast that Sysco Corporation will post 5.1 earnings per share for the current year.

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.