Jupiter Topco LLC Buys Shares of 66,196 Sysco Corporation $SYY

Jupiter Topco LLC bought a new position in shares of Sysco Corporation (NYSE:SYY) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 66,196 shares of the company’s stock, valued at approximately $5,531,000.

Several other large investors have also recently added to or reduced their stakes in SYY. Montag A & Associates Inc. boosted its position in 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 period. First Citizens Bank & Trust Co. boosted its holdings in Sysco by 1.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock valued at $827,000 after purchasing an additional 138 shares during the period. Diversify Wealth Management LLC grew its stake in Sysco by 1.6% during the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock worth $698,000 after purchasing an additional 143 shares in the last quarter. Arax Advisory Partners raised its position in Sysco by 2.4% in the 4th quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock valued at $458,000 after purchasing an additional 145 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in shares of Sysco by 11.1% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,469 shares of the company’s stock valued at $108,000 after buying an additional 147 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYY has been the topic of several analyst reports. Citigroup raised their target price on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Wall Street Zen upgraded shares of Sysco from a “hold” rating to a “buy” rating in a report on Saturday. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley increased their target price on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.50.

Sysco Stock Down 1.0%

Shares of NYSE:SYY opened at $81.14 on Tuesday. The firm has a 50 day simple moving average of $83.11 and a 200-day simple moving average of $80.50. Sysco Corporation has a twelve month low of $68.19 and a twelve 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. The company has a market capitalization of $38.87 billion, a PE ratio of 22.17, a P/E/G ratio of 2.80 and a beta of 0.64.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the firm posted $1.48 EPS. The company’s revenue was up 4.7% on a year-over-year basis. 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 predict that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders 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 annualized dividend and a dividend yield of 2.7%. Sysco’s dividend payout ratio (DPR) is presently 60.11%.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 506 shares of Sysco stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $84.09, for a total transaction of $42,549.54. Following the sale, the executive vice president owned 36,313 shares in the company, valued at approximately $3,053,560.17. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 sold a total of 14,508 shares of company stock worth $1,215,250 in the last 90 days. 0.56% of the stock is currently 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.