Corient Private Wealth LP Takes $15.11 Million Position in Sysco Corporation $SYY

Corient Private Wealth LP bought a new position in shares of Sysco Corporation (NYSE:SYY) in the 2nd quarter, Holdings Channel reports. The fund bought 216,302 shares of the company’s stock, valued at approximately $15,106,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lloyd Advisory Services LLC. purchased a new stake in Sysco during the 4th quarter valued at approximately $25,000. Motiv8 Investments LLC purchased a new position in shares of Sysco in the 4th quarter valued at approximately $25,000. Sunbelt Securities Inc. grew its stake in shares of Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 170 shares during the last quarter. Torren Management LLC acquired a new position in shares of Sysco in the fourth quarter valued at approximately $27,000. Finally, Bard Associates Inc. purchased a new stake in shares of Sysco during the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the subject of several recent research reports. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley boosted their price objective on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Finally, Citigroup lifted their target price on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Sysco Trading Down 0.6%

NYSE:SYY opened at $81.95 on Friday. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The stock has a fifty day moving average price of $83.05 and a two-hundred day moving average price of $80.59. The stock has a market capitalization of $39.26 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 2.80 and a beta of 0.64.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 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 for the quarter, compared to analyst estimates of $21.95 billion. During the same period in the previous year, the firm earned $1.48 EPS. The business’s revenue 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. As a group, sell-side analysts anticipate that Sysco Corporation will post 5.12 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. Sysco’s payout ratio is currently 60.11%.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 7,350 shares of the company’s stock in a transaction dated 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 directly owned 38,650 shares in the company, valued at approximately $3,231,526.50. This represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 14,508 shares of company stock worth $1,215,250 in the last quarter. Corporate 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.