112,110 Shares in Sysco Corporation $SYY Purchased by Empowered Funds LLC

Empowered Funds LLC acquired a new position in Sysco Corporation (NYSE:SYY) during the second quarter, HoldingsChannel reports. The institutional investor acquired 112,110 shares of the company’s stock, valued at approximately $9,370,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Nicholas Company Inc. purchased a new position in shares of Sysco in the 4th quarter worth about $2,278,000. Norges Bank bought a new stake in Sysco during the 4th quarter valued at about $542,780,000. Banque Cantonale Vaudoise raised its holdings in Sysco by 301.9% in the first quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock worth $1,200,000 after buying an additional 12,641 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Sysco in the fourth quarter worth approximately $52,672,000. Finally, Parnassus Investments LLC lifted its stake in shares of Sysco by 1.0% in the fourth quarter. Parnassus Investments LLC now owns 1,611,005 shares of the company’s stock worth $118,715,000 after buying an additional 15,539 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of Sysco stock opened at $81.95 on Friday. The stock has a market cap of $39.26 billion, a P/E ratio of 22.39, a P/E/G ratio of 2.80 and a beta of 0.64. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The stock’s fifty day moving average is $83.05 and its 200 day moving average is $80.59. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 95.05% and a net margin of 2.08%.Sysco’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Sell-side analysts anticipate that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is presently 60.11%.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 7,350 shares of Sysco stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the transaction, the executive vice president owned 38,650 shares in the company, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 90 days, insiders have sold 14,508 shares of company stock worth $1,215,250. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

About Sysco

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.