Perigon Wealth Management LLC Makes New Investment in Sysco Corporation $SYY

Perigon Wealth Management LLC purchased a new position in shares of Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,692 shares of the company’s stock, valued at approximately $559,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lloyd Advisory Services LLC. bought a new stake in shares of Sysco in the fourth quarter worth $25,000. Motiv8 Investments LLC bought a new position in Sysco in the fourth quarter valued at $25,000. Sunbelt Securities Inc. increased its stake in Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 170 shares during the last quarter. Torren Management LLC acquired a new stake in Sysco in the 4th quarter valued at $27,000. Finally, Bard Associates Inc. bought a new stake in Sysco during the 4th quarter worth about $27,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

NYSE:SYY opened at $82.58 on Thursday. The company has a market cap of $39.53 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.81 and a beta of 0.64. The firm’s fifty day moving average price is $82.48 and its two-hundred day moving average price is $80.62. Sysco Corporation has a one year low of $68.19 and a one 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 earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $22.12 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $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. Equities analysts expect that Sysco Corporation will post 5.1 earnings per share for the current year.

Insider Activity

In other news, Director John M. Hinshaw bought 13,304 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director owned 40,200 shares of the company’s stock, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 6,285 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $83.94, for a total value of $527,562.90. Following the transaction, the executive vice president owned 39,970 shares in the company, valued at approximately $3,355,081.80. This trade represents a 13.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYY. Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a research note on Friday, June 26th. Melius Research downgraded Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft lowered Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Tuesday, April 28th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Barclays decreased their price target on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $89.50.

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.