Sysco Corporation $SYY Stake Lifted by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its stake in shares of Sysco Corporation (NYSE:SYY) by 15.2% during the second quarter, Holdings Channel.com reports. The fund owned 79,271 shares of the company’s stock after purchasing an additional 10,445 shares during the period. NEOS Investment Management LLC’s holdings in Sysco were worth $6,625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYY. Lloyd Advisory Services LLC. acquired a new position in shares of Sysco during the 4th quarter valued at $25,000. Motiv8 Investments LLC acquired a new stake in shares of Sysco in the fourth quarter valued at $25,000. N.E.W. Advisory Services LLC bought a new position in Sysco during the second quarter valued at about $29,000. Sunbelt Securities Inc. boosted its stake in Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 170 shares in the last quarter. Finally, Bard Associates Inc. acquired a new position in Sysco during the fourth quarter worth about $27,000. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $80.10 on Friday. The company’s fifty day moving average is $83.13 and its two-hundred day moving average is $80.33. 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 company has a market cap of $38.38 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 2.73 and a beta of 0.63.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The company had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the prior year, the company earned $1.48 earnings per share. The company’s revenue for the quarter 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. Equities analysts expect that Sysco Corporation will post 5.12 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco’s dividend payout ratio is currently 60.11%.

Analysts Set New Price Targets

Several equities research analysts have commented on SYY shares. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Piper Sandler raised their price objective on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Morgan Stanley lifted their price objective on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Citigroup boosted their target price on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, UBS Group increased their target price on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Insider Buying and Selling

In other Sysco news, EVP Ronald Phillips sold 506 shares of Sysco stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $84.09, for a total transaction of $42,549.54. Following the transaction, the executive vice president owned 36,313 shares of the company’s stock, valued at $3,053,560.17. The trade was a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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. In the last three months, insiders sold 14,508 shares of company stock worth $1,215,250. Company insiders own 0.56% of the company’s stock.

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.