Sysco Corporation $SYY Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its position in Sysco Corporation (NYSE:SYY) by 15.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,271 shares of the company’s stock after acquiring an additional 10,445 shares during the quarter. NEOS Investment Management LLC’s holdings in Sysco were worth $6,625,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Sysco during the second quarter worth $3,596,356,000. State Street Corp boosted its holdings in shares of Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after buying an additional 246,542 shares during the period. Geode Capital Management LLC grew its position in shares of Sysco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock valued at $934,391,000 after buying an additional 131,659 shares during the last quarter. Norges Bank acquired a new stake in Sysco during the fourth quarter worth about $542,780,000. Finally, Morgan Stanley raised its stake in Sysco by 9.0% during the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock worth $446,444,000 after acquiring an additional 500,881 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley lifted their target price on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research report on Sunday. Melius Research downgraded Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Piper Sandler boosted their price objective on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, UBS Group upped their price objective on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Nine investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.50.

Insider Transactions at Sysco

In other news, EVP Ronald Phillips sold 7,350 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the transaction, the executive vice president owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. This represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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. In the last ninety days, insiders sold 14,508 shares of company stock worth $1,215,250. Insiders own 0.56% of the company’s stock.

Sysco Trading Down 1.2%

Sysco stock opened at $80.10 on Friday. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The firm has a market capitalization of $38.38 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.73 and a beta of 0.63. The firm has a 50-day moving average price of $83.13 and a two-hundred day moving average price of $80.33.

Sysco (NYSE:SYY) last announced 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. The company had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. Sysco’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $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 expect that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.7%. Sysco’s payout ratio is presently 60.11%.

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.