Kimelman & Baird LLC Purchases New Stake in Sysco Corporation $SYY

Kimelman & Baird LLC acquired a new position in shares of Sysco Corporation (NYSE:SYY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,599 shares of the company’s stock, valued at approximately $1,387,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lloyd Advisory Services LLC. purchased a new position in shares of Sysco during the 4th quarter worth $25,000. Motiv8 Investments LLC acquired a new stake in Sysco during the fourth quarter worth about $25,000. Sunbelt Securities Inc. boosted its holdings in Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 170 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Sysco in the 4th quarter valued at approximately $27,000. Finally, Bard Associates Inc. acquired a new stake in shares of Sysco during the 4th quarter worth approximately $27,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Down 0.6%

Sysco stock opened at $81.95 on Friday. The company has a market capitalization of $39.26 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. 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 Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The firm has a 50 day moving average price of $83.05 and a 200 day moving average price of $80.59.

Sysco (NYSE:SYY) last released its quarterly 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 analyst estimates of $21.95 billion. During the same period last year, the business posted $1.48 earnings per share. The company’s quarterly 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. Research analysts expect that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced 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. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is 60.11%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SYY shares. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. UBS Group raised their target price on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Citigroup upped their price target on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Finally, Piper Sandler boosted their price objective on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 7,350 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the sale, the executive vice president directly owned 38,650 shares in the company, valued at $3,231,526.50. This represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. Over the last three months, insiders sold 14,508 shares of company stock valued at $1,215,250. Insiders own 0.56% of the company’s stock.

Sysco Company 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.