Maryland State Retirement & Pension System Purchases 607 Shares of Sysco Corporation $SYY

Maryland State Retirement & Pension System lifted its stake in Sysco Corporation (NYSE:SYY) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,582 shares of the company’s stock after buying an additional 607 shares during the period. Maryland State Retirement & Pension System’s holdings in Sysco were worth $1,786,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SYY. Chung Wu Investment Group LLC acquired a new position in shares of Sysco in the 2nd quarter worth approximately $30,000. Golden State Wealth Management LLC raised its holdings in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after buying an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Sysco in the 1st quarter worth approximately $33,000. Cheviot Value Management LLC acquired a new position in shares of Sysco in the 1st quarter worth approximately $34,000. Finally, 1248 Management LLC acquired a new position in shares of Sysco in the 1st quarter worth approximately $35,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The stock was 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 in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,338 shares of company stock worth $7,439,331 over the last 90 days. 0.54% of the stock is owned by corporate insiders.

Sysco Stock Up 0.5%

Shares of SYY opened at $78.44 on Friday. The firm has a market capitalization of $37.53 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.43 and a beta of 0.82. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The business’s fifty day moving average price is $80.81 and its two-hundred day moving average price is $76.39. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47.

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

Sysco Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYY. Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company set a $88.00 price target on Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. Bank of America raised their price target on Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, Barclays raised their price target on Sysco from $77.00 to $82.00 and gave the company an “overweight” rating 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 company. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.85.

Sysco Company Profile

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.