11,077 Shares in Sysco Corporation $SYY Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd purchased a new position in Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,077 shares of the company’s stock, valued at approximately $920,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Sysco during the 4th quarter worth about $542,780,000. Wellington Management Group LLP grew its holdings in Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after purchasing an additional 4,595,819 shares during the period. Bank of New York Mellon Corp purchased a new stake in Sysco in the second quarter valued at approximately $273,323,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Sysco during the second quarter worth approximately $203,861,000. Finally, First Nebraska Trust Co purchased a new position in Sysco during the first quarter worth approximately $156,697,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research analyst reports. Sanford C. Bernstein decreased their price target on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. UBS Group increased their target price on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Citigroup lifted their target price on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, Morgan Stanley boosted their price target on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.50.

Sysco Trading Up 0.3%

Shares of SYY stock opened at $82.07 on Wednesday. The stock has a market cap of $39.29 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The firm’s 50 day moving average price is $82.40 and its two-hundred day moving average price is $80.63.

Sysco (NYSE:SYY) last released its quarterly earnings data 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 company had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. Sysco’s revenue for the quarter 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, analysts anticipate that Sysco Corporation will post 5.1 EPS for the current year.

Insiders Place Their Bets

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ronald L. Phillips sold 367 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $83.39, for a total value of $30,604.13. Following the completion of the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at approximately $3,223,023.50. This represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. 0.56% of the stock is currently owned by corporate insiders.

About Sysco

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.