Lombard Odier Asset Management Europe Ltd Makes New $2.42 Million Investment in Sysco Corporation $SYY

Lombard Odier Asset Management Europe Ltd purchased a new stake in Sysco Corporation (NYSE:SYY) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 29,011 shares of the company’s stock, valued at approximately $2,425,000.

Several other large investors also recently made changes to their positions in SYY. Nicholas Company Inc. purchased a new stake in Sysco in the 4th quarter valued at approximately $2,278,000. Norges Bank purchased a new position in Sysco during the fourth quarter worth $542,780,000. Banque Cantonale Vaudoise raised its holdings in shares of Sysco by 301.9% in the first quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock worth $1,200,000 after acquiring an additional 12,641 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Sysco in the fourth quarter worth $52,672,000. Finally, Parnassus Investments LLC lifted its position in shares of Sysco by 1.0% in the fourth quarter. Parnassus Investments LLC now owns 1,611,005 shares of the company’s stock valued at $118,715,000 after acquiring an additional 15,539 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $81.95 on Friday. The business’s 50-day simple moving average is $83.05 and its 200-day simple moving average is $80.59. The firm has a market capitalization of $39.26 billion, a P/E ratio of 22.39, a P/E/G ratio of 2.81 and a beta of 0.64. 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 current ratio of 1.28 and a quick ratio of 0.77.

Sysco (NYSE:SYY) last posted its quarterly 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 net margin of 2.08% and a return on equity of 95.05%. The firm had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the firm posted $1.48 earnings per share. Sysco’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 analysts predict that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Dividend Announcement

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

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 7,350 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was 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 in the company, 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 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 14,508 shares of company stock valued at $1,215,250 over the last 90 days. Company insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SYY. Wall Street Zen upgraded Sysco from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. UBS Group raised their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, 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 note on Thursday, July 16th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.50.

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.