Flputnam Investment Management Co. Acquires New Stake in Sysco Corporation $SYY

Flputnam Investment Management Co. bought a new position in shares of Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 39,761 shares of the company’s stock, valued at approximately $3,323,000.

A number of other institutional investors have also added to or reduced their stakes in SYY. Montag A & Associates Inc. grew its holdings in shares of Sysco by 1.4% during the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock worth $644,000 after purchasing an additional 123 shares in the last quarter. United Community Bank raised its stake in Sysco by 11.4% in the fourth quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after purchasing an additional 125 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of Sysco by 1.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock worth $827,000 after acquiring an additional 138 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in Sysco by 1.6% during the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock worth $698,000 after purchasing an additional 143 shares during the last quarter. Finally, Arax Advisory Partners boosted its stake in Sysco by 2.4% in the fourth quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock worth $458,000 after buying an additional 145 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Activity

In other Sysco news, Director John M. Hinshaw acquired 13,304 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director owned 40,200 shares in the company, valued at $3,021,834. This represents a 49.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 367 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $83.39, for a total transaction of $30,604.13. Following the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,223,023.50. This trade represents a 0.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. 0.56% of the stock is owned by corporate insiders.

Sysco Price Performance

Shares of NYSE:SYY opened at $82.94 on Monday. The firm has a market cap of $39.71 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. The business has a 50-day simple moving average of $82.21 and a two-hundred day simple moving average of $80.66. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. 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 (NYSE:SYY) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 EPS. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, analysts expect that Sysco Corporation will post 5.1 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on SYY shares. Morgan Stanley upped their price target on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. UBS Group increased their price target on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Barclays reduced their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.50.

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.