Public Employees Retirement System of Ohio Purchases New Holdings in Sysco Corporation $SYY

Public Employees Retirement System of Ohio purchased a new stake in Sysco Corporation (NYSE:SYY) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 145,166 shares of the company’s stock, valued at approximately $12,133,000.

Several other institutional investors have also recently made changes to their positions in the stock. Montag A & Associates Inc. boosted its holdings in shares of Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after buying an additional 123 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in Sysco by 1.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock worth $827,000 after buying an additional 138 shares during the last quarter. Diversify Wealth Management LLC increased its holdings in Sysco by 1.6% during the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock worth $698,000 after buying an additional 143 shares during the last quarter. Arax Advisory Partners raised its position in Sysco by 2.4% during the fourth quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock worth $458,000 after acquiring an additional 145 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in Sysco by 11.1% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,469 shares of the company’s stock valued at $108,000 after acquiring an additional 147 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity

In other news, EVP Ronald L. Phillips sold 506 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.09, for a total value of $42,549.54. Following the completion of the sale, the executive vice president owned 36,313 shares of the company’s stock, valued at approximately $3,053,560.17. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 have sold a total of 14,508 shares of company stock valued at $1,215,250 over the last three months. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SYY. Wall Street Zen upgraded shares of Sysco from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler raised their price objective on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. UBS Group boosted their target price on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley lifted their price objective on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Sysco Trading Up 0.0%

Shares of NYSE:SYY opened at $81.95 on Monday. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The business has a 50 day moving average of $83.05 and a 200-day moving average of $80.54. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The stock has a market cap of $39.26 billion, a PE ratio of 22.39, a P/E/G ratio of 2.80 and a beta of 0.64.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm 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. As a group, equities research analysts forecast that Sysco Corporation will post 5.12 earnings per share for the current 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 dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. Sysco’s dividend payout ratio (DPR) 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.