Element Capital Management LLC Makes New $1.18 Million Investment in Sysco Corporation $SYY

Element Capital Management LLC acquired a new stake in Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 14,100 shares of the company’s stock, valued at approximately $1,178,000.

Several other hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC raised its holdings in Sysco by 53.1% in the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after buying an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. increased its position in shares of Sysco by 24.1% during the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after buying an additional 2,000 shares during the period. NewEdge Advisors LLC increased its position in shares of Sysco by 62.4% during the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after buying an additional 13,616 shares during the period. Sei Investments Co. raised its stake in Sysco by 14.2% during the second quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock worth $26,092,000 after buying an additional 42,903 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Sysco by 0.8% in the second quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after buying an additional 1,710 shares during the period. 83.41% of the stock is owned by institutional investors.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 506 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $84.09, for a total transaction of $42,549.54. Following the completion of the sale, the executive vice president owned 36,313 shares in the company, valued at $3,053,560.17. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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. Insiders sold a total of 14,508 shares of company stock worth $1,215,250 in the last ninety days. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

SYY has been the subject of a number of recent analyst reports. UBS Group increased their price target on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Sanford C. Bernstein cut 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. Barclays decreased their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft lowered Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research note on Tuesday, April 28th. Finally, Piper Sandler increased 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. Nine research 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’s stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Sysco Price Performance

Shares of NYSE SYY opened at $83.50 on Wednesday. The firm has a market capitalization of $40.01 billion, a P/E ratio of 22.81, a P/E/G ratio of 2.86 and a beta of 0.64. The firm’s 50-day moving average price is $82.82 and its 200-day moving average price is $80.61. 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 1-year low of $68.19 and a 1-year high of $91.85.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating 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 company had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the business posted $1.48 EPS. The firm’s revenue for the quarter 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 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is 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.