Element Capital Management LLC Purchases Shares of 14,100 Sysco Corporation $SYY

Element Capital Management LLC acquired a new position in shares of Sysco Corporation (NYSE:SYY) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 14,100 shares of the company’s stock, valued at approximately $1,178,000.

A number of other large investors also recently modified their holdings of the stock. Kinloch Capital LLC bought a new position in shares of Sysco in the second quarter valued at approximately $4,291,000. Legal & General Group Plc bought a new stake in Sysco during the second quarter worth $195,915,000. The Manufacturers Life Insurance Company purchased a new stake in Sysco in the 2nd quarter valued at $121,301,000. Fiduciary Financial Advisors bought a new position in Sysco during the 2nd quarter valued at $47,000. Finally, Manning & Napier Advisors LLC purchased a new position in Sysco during the 2nd quarter worth $1,055,000. Institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ronald L. Phillips sold 7,350 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the transaction, the executive vice president directly owned 38,650 shares of the company’s stock, valued at $3,231,526.50. This represents a 15.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 have sold 14,508 shares of company stock valued at $1,215,250 in the last 90 days. 0.56% of the stock is owned by insiders.

Sysco Trading Down 0.4%

Shares of Sysco stock opened at $83.50 on Wednesday. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The firm has a market cap of $40.01 billion, a PE ratio of 22.81, a P/E/G ratio of 2.86 and a beta of 0.64. The stock has a fifty day moving average price of $82.82 and a 200-day moving average price of $80.61. 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 (NYSE:SYY) last released its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business 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. Equities research analysts anticipate that Sysco Corporation will post 5.12 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 $0.55 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.6%. Sysco’s payout ratio is currently 60.11%.

Wall Street Analysts Forecast Growth

SYY has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Sanford C. Bernstein dropped their price target on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a report on Tuesday, April 28th. Morgan Stanley increased their price objective on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Finally, Citigroup lifted their target price on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.