Sysco Corporation $SYY Shares Newly Purchased by Islay Capital Management LLC

Islay Capital Management LLC purchased a new stake in Sysco Corporation (NYSE:SYY) during the third quarter, Holdings Channel reports. The fund purchased 9,756 shares of the company’s stock, valued at approximately $761,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Sysco during the 2nd quarter worth about $3,596,356,000. Bank of America Corp DE purchased a new stake in Sysco during the 2nd quarter worth approximately $482,589,000. Dimensional Fund Advisors LP boosted its position in Sysco by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,667,412 shares of the company’s stock valued at $332,871,000 after buying an additional 59,685 shares during the period. Primecap Management Co. CA acquired a new position in shares of Sysco in the second quarter worth $313,503,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sysco during the second quarter worth $273,323,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling

In other Sysco news, EVP Ronald Phillips sold 960 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $83.00, for a total value of $79,680.00. Following the sale, the executive vice president owned 49,852 shares of the company’s stock, valued at approximately $4,137,716. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sold 15,525 shares of company stock worth $1,299,736 in the last quarter. 0.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYY has been the subject of a number of analyst reports. Citigroup boosted their price objective on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Piper Sandler upped their price target on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Finally, Guggenheim restated a “buy” rating and issued a $90.00 price objective on shares of Sysco in a research note on Wednesday, September 16th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.42.

Sysco Stock Performance

NYSE:SYY traded up $1.08 during midday trading on Tuesday, reaching $82.67. The stock had a trading volume of 510,299 shares, compared to its average volume of 4,031,349. The stock has a market cap of $40.67 billion, a P/E ratio of 22.59, a P/E/G ratio of 2.81 and a beta of 0.64. 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. The firm has a fifty day simple moving average of $80.60 and a two-hundred day simple moving average of $79.03.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm 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. On average, equities analysts expect that Sysco Corporation will post 5.10 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be issued 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 currently 60.11%.

About Sysco

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.