Louisiana State Employees Retirement System Has $1.94 Million Stock Position in Sysco Corporation $SYY

Louisiana State Employees Retirement System lowered its stake in Sysco Corporation (NYSE:SYY) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,600 shares of the company’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Sysco were worth $1,939,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in Sysco by 30.9% during the 1st quarter. Farther Finance Advisors LLC now owns 5,502 shares of the company’s stock worth $415,000 after buying an additional 1,298 shares during the period. Focus Financial Network Inc. raised its stake in Sysco by 5.9% during the 1st quarter. Focus Financial Network Inc. now owns 3,994 shares of the company’s stock worth $300,000 after buying an additional 221 shares during the period. Everhart Financial Group Inc. raised its stake in Sysco by 12.1% during the 1st quarter. Everhart Financial Group Inc. now owns 5,871 shares of the company’s stock worth $441,000 after buying an additional 632 shares during the period. Krilogy Financial LLC raised its stake in Sysco by 8.1% during the 1st quarter. Krilogy Financial LLC now owns 25,986 shares of the company’s stock worth $1,950,000 after buying an additional 1,951 shares during the period. Finally, Pullen Investment Management LLC acquired a new stake in Sysco during the 1st quarter worth $1,074,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays raised their price objective on Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Truist Financial increased their target price on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Bank of America increased their target price on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Finally, UBS Group set a $90.00 target price on Sysco in a report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.85.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares of the company’s stock, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,338 shares of company stock worth $7,439,331 over the last three months. 0.54% of the stock is currently owned by insiders.

Sysco Stock Up 0.5%

NYSE SYY opened at $78.44 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47. The company has a 50 day moving average of $80.81 and a 200-day moving average of $76.39. The company has a market cap of $37.53 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.43 and a beta of 0.82.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is 57.91%.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.