Meeder Advisory Services Inc. Buys Shares of 9,071 Sysco Corporation $SYY

Meeder Advisory Services Inc. purchased a new stake in shares of Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,071 shares of the company’s stock, valued at approximately $758,000.

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

Insider Activity at Sysco

In related news, EVP Ronald L. Phillips sold 367 shares of Sysco stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $83.39, for a total transaction of $30,604.13. Following the transaction, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,223,023.50. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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. Also, Director John M. Hinshaw purchased 13,304 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the acquisition, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. This represents a 49.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.56% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $83.21 on Friday. The stock has a market cap of $39.84 billion, a P/E ratio of 22.74, a P/E/G ratio of 2.82 and a beta of 0.64. The business’s fifty day moving average is $82.55 and its 200 day moving average is $80.62. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. The firm 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%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Sell-side analysts anticipate that Sysco Corporation will post 5.1 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.55 per share. 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 payout ratio is currently 60.11%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Sanford C. Bernstein lowered their target price on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Tuesday, April 28th. UBS Group upped their target price on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, 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. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.