Triton Financial Group Inc Makes New $1.34 Million Investment in Sysco Corporation $SYY

Triton Financial Group Inc acquired a new position in shares of Sysco Corporation (NYSE:SYY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,997 shares of the company’s stock, valued at approximately $1,337,000.

Several other hedge funds have also made changes to their positions in SYY. Intech Investment Management LLC grew its position in Sysco by 53.1% during the first 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 holdings in Sysco by 24.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after acquiring an additional 2,000 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Sysco by 62.4% in the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after acquiring an additional 13,616 shares during the period. Sei Investments Co. lifted its position in shares of Sysco by 14.2% in the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock worth $26,092,000 after acquiring an additional 42,903 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock worth $17,166,000 after purchasing an additional 1,710 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Ronald L. Phillips sold 7,350 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the transaction, the executive vice president owned 38,650 shares in the company, valued at $3,231,526.50. The trade was a 15.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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. In the last three months, insiders have sold 14,508 shares of company stock valued at $1,215,250. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SYY. Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Citigroup raised their target price on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Morgan Stanley boosted their price target on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Finally, Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Nine 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Sysco Stock Down 1.1%

SYY opened at $82.35 on Friday. The firm has a market cap of $39.46 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 2.84 and a beta of 0.64. The firm’s 50-day simple moving average is $82.98 and its 200-day simple moving average is $80.58. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (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 company had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. Sysco’s quarterly revenue was up 4.7% compared to the same quarter last year. 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 anticipate that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is presently 60.11%.

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.