Islay Capital Management LLC Invests $566,000 in Sysco Corporation $SYY

Islay Capital Management LLC acquired a new position in shares of Sysco Corporation (NYSE:SYY) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 6,872 shares of the company’s stock, valued at approximately $566,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Sysco by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after purchasing an additional 1,226,381 shares in the last quarter. Geode Capital Management LLC lifted its stake in Sysco by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 12,551,872 shares of the company’s stock valued at $946,694,000 after purchasing an additional 183,179 shares during the last quarter. Norges Bank acquired a new stake in Sysco in the second quarter valued at approximately $493,686,000. Charles Schwab Investment Management Inc. grew its stake in shares of Sysco by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,131,931 shares of the company’s stock worth $237,212,000 after buying an additional 27,693 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Sysco by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 2,639,931 shares of the company’s stock worth $201,076,000 after buying an additional 283,706 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent research reports. Piper Sandler raised their price objective on Sysco from $80.00 to $83.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Truist Financial lifted their price target on Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Citigroup upped their price objective on Sysco from $81.00 to $88.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded shares of Sysco from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 24th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.31.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 2,801 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $82.99, for a total value of $232,454.99. Following the transaction, the director directly owned 12,868 shares of the company’s stock, valued at $1,067,915.32. The trade was a 17.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ronald L. Phillips sold 5,601 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total value of $453,681.00. Following the sale, the executive vice president directly owned 35,965 shares of the company’s stock, valued at $2,913,165. This represents a 13.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.56% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $85.83 on Friday. The stock’s 50 day moving average is $82.13 and its 200 day moving average is $79.31. Sysco Corporation has a one year low of $67.12 and a one year high of $91.85. The firm has a market cap of $41.11 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.72 and a beta of 0.58. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.30 and a quick ratio of 0.75.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. The firm had revenue of $20.76 billion during the quarter, compared to analyst estimates of $20.80 billion. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.93 EPS. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. As a group, research analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 2nd will be issued a $0.54 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $2.16 annualized dividend and a yield of 2.5%. Sysco’s payout ratio is presently 58.06%.

About Sysco

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.