Glaxis Capital Management LLC Makes New Investment in Sysco Corporation $SYY

Glaxis Capital Management LLC purchased a new stake in Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,400 shares of the company’s stock, valued at approximately $535,000. Sysco accounts for about 1.1% of Glaxis Capital Management LLC’s investment portfolio, making the stock its 19th largest holding.

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

Sysco Price Performance

Shares of Sysco stock opened at $83.21 on Friday. 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 Corporation has a one year low of $68.19 and a one year high of $91.85. The business’s 50 day simple moving average is $82.55 and its two-hundred day simple moving average is $80.62. The stock has a market capitalization of $39.84 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share 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 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 for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business 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. Analysts forecast that Sysco Corporation will post 5.1 EPS for the current 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 given 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 presently 60.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Barclays lowered their target price on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Citigroup boosted their price target on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 6,285 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $83.94, for a total value of $527,562.90. Following the completion of the transaction, the executive vice president directly owned 39,970 shares in the company, valued at approximately $3,355,081.80. This represents a 13.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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. Also, Director John M. Hinshaw bought 13,304 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost 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 in the company, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.56% of the stock is currently owned by corporate insiders.

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.