42,439 Shares in Sysco Corporation $SYY Bought by North Star Asset Management Inc.

North Star Asset Management Inc. bought a new stake in shares of Sysco Corporation (NYSE:SYY) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 42,439 shares of the company’s stock, valued at approximately $3,547,000.

Several other large investors have also added to or reduced their stakes in SYY. Montag A & Associates Inc. lifted its position in Sysco by 1.4% during the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after purchasing an additional 123 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Sysco by 1.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock valued at $827,000 after acquiring an additional 138 shares during the period. Diversify Wealth Management LLC grew its position in Sysco by 1.6% in the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after acquiring an additional 143 shares during the last quarter. Arax Advisory Partners grew its position in Sysco by 2.4% in the 4th quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock valued at $458,000 after acquiring an additional 145 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its position in Sysco by 11.1% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,469 shares of the company’s stock valued at $108,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 506 shares of Sysco stock in a transaction on Monday, August 24th. The shares were sold at an average price of $84.09, for a total value of $42,549.54. Following the sale, the executive vice president owned 36,313 shares of the company’s stock, valued at approximately $3,053,560.17. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Over the last 90 days, insiders have sold 14,508 shares of company stock valued at $1,215,250. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SYY shares. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Citigroup upped their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. UBS Group raised their target price 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. Morgan Stanley boosted their price target on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Finally, Piper Sandler upped their price target on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Sysco Trading Down 1.1%

NYSE:SYY opened at $82.35 on Friday. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The firm has a fifty day simple moving average of $82.98 and a 200-day simple moving average of $80.58. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The company has a market capitalization of $39.46 billion, a P/E ratio of 22.50, a PEG ratio of 2.84 and a beta of 0.64.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion for 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 prior year, the firm earned $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. On average, equities research analysts anticipate that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. Sysco’s dividend payout ratio (DPR) is 60.11%.

Sysco 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.