124,280 Shares in Sysco Corporation $SYY Bought by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in shares of Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 124,280 shares of the company’s stock, valued at approximately $9,413,000.

Several other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Sysco by 1.0% during the first quarter. Invesco Ltd. now owns 17,070,502 shares of the company’s stock worth $1,280,970,000 after purchasing an additional 162,961 shares during the last quarter. Boston Partners raised its holdings in shares of Sysco by 24.8% during the first quarter. Boston Partners now owns 15,199,828 shares of the company’s stock worth $1,139,798,000 after purchasing an additional 3,015,714 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 2.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company’s stock worth $551,810,000 after purchasing an additional 146,573 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Sysco by 2.6% during the first quarter. Northern Trust Corp now owns 5,828,930 shares of the company’s stock worth $437,403,000 after purchasing an additional 145,477 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Sysco by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company’s stock worth $381,747,000 after purchasing an additional 391,614 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SYY. Citigroup raised their price target on shares of Sysco from $84.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday. Morgan Stanley raised their price target on shares of Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Barclays raised their price target on shares of Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Finally, UBS Group set a $90.00 price target on shares of Sysco in a research report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.46.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,338 shares of company stock worth $7,439,331 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

Sysco Stock Up 1.4%

Shares of NYSE SYY opened at $79.92 on Friday. The company’s 50-day simple moving average is $80.73 and its 200-day simple moving average is $76.55. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The firm has a market cap of $38.24 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75.

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

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. Sysco’s payout ratio is presently 57.91%.

Sysco 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.