16,599 Shares in Sysco Corporation $SYY Purchased by Kimelman & Baird LLC

Kimelman & Baird LLC purchased a new stake in Sysco Corporation (NYSE:SYY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,599 shares of the company’s stock, valued at approximately $1,387,000.

Several other hedge funds have also bought and sold shares of SYY. Lloyd Advisory Services LLC. acquired a new position in shares of Sysco in the 4th quarter valued at $25,000. Motiv8 Investments LLC purchased a new stake in Sysco during the fourth quarter worth $25,000. Sunbelt Securities Inc. grew its position in Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 170 shares during the period. Torren Management LLC purchased a new position in Sysco in the fourth quarter valued at $27,000. Finally, Bard Associates Inc. purchased a new position in Sysco in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group increased their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Piper Sandler upped their price target on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Morgan Stanley increased their price target on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Weiss Ratings raised Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Finally, Melius Research cut Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 7,350 shares of Sysco stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 90 days, insiders sold 14,508 shares of company stock valued at $1,215,250. Company insiders own 0.56% of the company’s stock.

Sysco Trading Down 0.6%

Shares of Sysco stock opened at $81.95 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The firm has a market capitalization of $39.26 billion, a PE ratio of 22.39, a P/E/G ratio of 2.81 and a beta of 0.64. The firm’s 50-day moving average price is $83.05 and its 200 day moving average price is $80.59.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.Sysco’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business 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. On average, sell-side analysts predict that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Announces Dividend

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