Meeder Advisory Services Inc. Acquires Shares of 9,071 Sysco Corporation $SYY

Meeder Advisory Services Inc. acquired a new position in Sysco Corporation (NYSE:SYY) in the 2nd quarter, HoldingsChannel reports. The fund acquired 9,071 shares of the company’s stock, valued at approximately $758,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc. RI bought a new position in Sysco during the second quarter worth about $4,588,000. Aegis Wealth Management LLC purchased a new stake in shares of Sysco during the 2nd quarter valued at approximately $334,000. Pavion Blue Capital LLC bought a new position in Sysco in the 2nd quarter worth approximately $225,000. Conway Capital Management Inc. bought a new position in Sysco in the 2nd quarter worth approximately $232,000. Finally, BlackRock Inc. purchased a new position in Sysco in the 2nd quarter valued at approximately $3,596,356,000. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 6,285 shares of the business’s stock in a transaction that occurred 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 owned 39,970 shares of the company’s stock, valued at $3,355,081.80. The trade was a 13.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 acquired 13,304 shares of the stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the transaction, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This represents a 49.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.56% of the stock is owned by insiders.

Sysco Trading Up 0.9%

Shares of SYY stock opened at $83.21 on Friday. The company has a market capitalization of $39.84 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The business’s fifty day moving average is $82.55 and its 200 day moving average is $80.62. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business had revenue of $22.12 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. 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 research analysts anticipate that Sysco Corporation will post 5.1 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.6%. Sysco’s payout ratio is presently 60.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SYY shares. Barclays dropped their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Citigroup lifted their target price on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft cut Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Tuesday, April 28th. Finally, Morgan Stanley increased their price target on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

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.