Man Group plc Invests $140.39 Million in Sysco Corporation $SYY

Man Group plc acquired a new position in Sysco Corporation (NYSE:SYY) during the 2nd quarter, HoldingsChannel reports. The fund acquired 1,679,724 shares of the company’s stock, valued at approximately $140,391,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SYY. Montag A & Associates Inc. grew its position in shares of Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after buying an additional 123 shares during the last quarter. United Community Bank raised its position in shares of Sysco by 11.4% during the fourth quarter. United Community Bank now owns 1,224 shares of the company’s stock worth $90,000 after acquiring an additional 125 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Sysco by 1.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock worth $827,000 after acquiring an additional 138 shares during the period. Diversify Wealth Management LLC boosted its holdings in Sysco by 1.6% in the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after acquiring an additional 143 shares during the last quarter. Finally, Arax Advisory Partners boosted its holdings in Sysco by 2.4% in the fourth quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock valued at $458,000 after acquiring an additional 145 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Morgan Stanley boosted their target price on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Barclays cut 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. Finally, Sanford C. Bernstein lowered their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Nine 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 has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Sysco Price Performance

Sysco stock opened at $83.50 on Wednesday. The stock has a market capitalization of $40.01 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.86 and a beta of 0.64. Sysco Corporation has a 52-week low of $68.19 and a 52-week 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’s 50 day moving average price is $82.82 and its two-hundred day moving average price is $80.61.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. Sysco’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company 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, equities analysts predict that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.6%. Sysco’s dividend payout ratio is currently 60.11%.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 7,350 shares of the 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 owned 38,650 shares of the company’s stock, valued at $3,231,526.50. This represents a 15.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 a total of 14,508 shares of company stock worth $1,215,250 in the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Sysco 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.