Foster & Motley Inc. Buys Shares of 6,445 Sysco Corporation $SYY

Foster & Motley Inc. purchased a new stake in shares of Sysco Corporation (NYSE:SYY) in the second quarter, HoldingsChannel.com reports. The fund purchased 6,445 shares of the company’s stock, valued at approximately $539,000.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Sysco in the 2nd quarter valued at approximately $3,596,356,000. Norges Bank purchased a new stake in Sysco during the fourth quarter worth $542,780,000. Wellington Management Group LLP grew its holdings in Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after purchasing an additional 4,595,819 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Sysco in the second quarter valued at $273,323,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Sysco in the second quarter valued at $203,861,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

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

Analyst Ratings Changes

SYY has been the topic of several recent research reports. Sanford C. Bernstein decreased their price objective on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Barclays lowered their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Morgan Stanley raised their price objective on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.50.

Sysco Stock Up 0.9%

Shares of NYSE SYY opened at $83.21 on Friday. The firm has a market cap of $39.84 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. 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 1 year low of $68.19 and a 1 year high of $91.85. The firm’s 50 day moving average price is $82.55 and its 200 day moving average price is $80.62.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share 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 in the previous year, the firm posted $1.48 EPS. Sysco’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 5.1 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced 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 2.6%. The ex-dividend date is Friday, October 2nd. Sysco’s dividend payout ratio is presently 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.