Plato Investment Management Ltd Acquires Shares of 11,077 Sysco Corporation $SYY

Plato Investment Management Ltd bought a new position in shares of Sysco Corporation (NYSE:SYY) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 11,077 shares of the company’s stock, valued at approximately $920,000.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Sysco by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock worth $4,591,281,000 after acquiring an additional 814,270 shares during the period. State Street Corp boosted its position in shares of Sysco by 0.9% during the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after purchasing an additional 246,542 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Sysco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after purchasing an additional 131,659 shares during the period. Norges Bank purchased a new position in shares of Sysco in the 4th quarter valued at about $542,780,000. Finally, Morgan Stanley increased its holdings in shares of Sysco by 9.0% in the 4th quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock valued at $446,444,000 after purchasing an additional 500,881 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Up 0.3%

SYY stock opened at $82.07 on Wednesday. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The company’s 50 day simple moving average is $82.40 and its 200-day simple moving average is $80.63. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The firm has a market capitalization of $39.29 billion, a PE ratio of 22.42, a P/E/G ratio of 2.84 and a beta of 0.64.

Sysco (NYSE:SYY) last issued 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 return on equity of 95.05% and a net margin of 2.08%.The firm 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 posted $1.48 EPS. The company’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 analysts expect that Sysco Corporation will post 5.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYY. Barclays lowered their price target on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. Sanford C. Bernstein decreased their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Citigroup upped 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, Piper Sandler lifted their price target on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $89.50.

Insiders Place Their Bets

In related news, Director John M. Hinshaw purchased 13,304 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director directly owned 40,200 shares in the company, valued at $3,021,834. The trade was a 49.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ronald L. Phillips sold 6,285 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $83.94, for a total transaction of $527,562.90. Following the completion of the transaction, the executive vice president owned 39,970 shares in the company, valued at approximately $3,355,081.80. This trade represents a 13.59% 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. Insiders own 0.56% of the company’s stock.

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.