Aberdeen Group plc Increases Stock Position in Sysco Corporation $SYY

Aberdeen Group plc raised its position in shares of Sysco Corporation (NYSE:SYY) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 423,576 shares of the company’s stock after buying an additional 20,862 shares during the period. Aberdeen Group plc’s holdings in Sysco were worth $31,900,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Lmcg Investments LLC boosted its position in Sysco by 5.4% during the 2nd quarter. Lmcg Investments LLC now owns 78,554 shares of the company’s stock valued at $5,950,000 after buying an additional 4,047 shares during the period. JB Capital LLC boosted its position in Sysco by 12.3% during the 2nd quarter. JB Capital LLC now owns 3,028 shares of the company’s stock valued at $229,000 after buying an additional 332 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position in Sysco by 49.6% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 7,975 shares of the company’s stock valued at $605,000 after buying an additional 2,643 shares during the period. IFP Advisors Inc raised its holdings in Sysco by 0.7% in the 2nd quarter. IFP Advisors Inc now owns 33,948 shares of the company’s stock worth $2,680,000 after purchasing an additional 237 shares in the last quarter. Finally, Callan Family Office LLC raised its holdings in Sysco by 195.5% in the 2nd quarter. Callan Family Office LLC now owns 67,132 shares of the company’s stock worth $5,085,000 after purchasing an additional 44,416 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 0.5%

NYSE:SYY opened at $78.44 on Monday. The firm has a 50-day simple moving average of $80.81 and a two-hundred day simple moving average of $76.41. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. The firm has a market cap of $37.53 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.43 and a beta of 0.82. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same period in the previous year, the business posted $1.39 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. Sysco’s dividend payout ratio (DPR) is presently 57.91%.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 37,606 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares of the company’s stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 92,338 shares of company stock worth $7,439,331. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SYY has been the subject of several research reports. Weiss Ratings lowered shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Truist Financial upped their price objective on shares of Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Bank of America increased their price target on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, Morgan Stanley increased their price target on shares of Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.85.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.