35,987 Shares of Sysco Corporation $SYY Acquired by Ninety One North America Inc.

Ninety One North America Inc. bought a new position in Sysco Corporation (NYSE:SYY) in the third quarter, HoldingsChannel reports. The fund bought 35,987 shares of the company’s stock, valued at approximately $2,806,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. N.E.W. Advisory Services LLC purchased a new stake in shares of Sysco during the 2nd quarter valued at about $29,000. Sunbelt Securities Inc. grew its stake in shares of Sysco by 87.6% in the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 170 shares during the period. Markowski Investments purchased a new position in shares of Sysco during the second quarter valued at approximately $31,000. Parvin Asset Management LLC purchased a new position in shares of Sysco during the second quarter valued at approximately $32,000. Finally, Tacita Capital Inc bought a new position in Sysco during the second quarter valued at approximately $35,000. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SYY shares. Guggenheim restated a “buy” rating and issued a $90.00 target price on shares of Sysco in a report on Wednesday, September 16th. Piper Sandler lifted their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings lowered shares of Sysco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, September 28th. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Finally, JPMorgan Chase & Co. lowered their price target on Sysco from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $90.42.

Insiders Place Their Bets

In other Sysco news, EVP Ronald Phillips sold 7,350 shares of Sysco stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the transaction, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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. Insiders have sold a total of 15,525 shares of company stock worth $1,299,736 over the last quarter. 0.55% of the stock is owned by insiders.

Sysco Stock Performance

Shares of NYSE SYY traded up $1.34 during trading on Thursday, hitting $82.31. The company had a trading volume of 1,021,329 shares, compared to its average volume of 4,056,882. The stock has a 50 day simple moving average of $80.72 and a 200 day simple moving average of $78.87. 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 12 month low of $68.19 and a 12 month high of $91.85. The firm has a market capitalization of $40.49 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.76 and a beta of 0.64.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, analysts anticipate that Sysco Corporation will post 5.10 earnings per share for the current year.

Sysco Dividend Announcement

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

Sysco Profile

Sysco Corporation is a global foodservice distributor headquartered in Houston, Texas. The company supplies restaurants, hotels, healthcare facilities, educational institutions, government organizations and other foodservice customers with a broad range of products and related services.

Sysco’s offerings include fresh and frozen foods, meat and seafood, dairy products, produce, canned and dry goods, beverages, specialty and international foods, and prepared and ready-to-use items. The company also distributes nonfood products such as kitchen equipment, tableware, cleaning supplies and other operating supplies.