Cairn Investment Group Inc. Acquires New Position in Sysco Corporation $SYY

Cairn Investment Group Inc. acquired a new stake in Sysco Corporation (NYSE:SYY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 66,760 shares of the company’s stock, valued at approximately $5,580,000. Sysco comprises about 2.4% of Cairn Investment Group Inc.’s portfolio, making the stock its 15th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. Intech Investment Management LLC increased its holdings in shares of Sysco by 53.1% in the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after purchasing an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in Sysco by 24.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after buying an additional 2,000 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Sysco by 62.4% in the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock valued at $2,685,000 after buying an additional 13,616 shares in the last quarter. Sei Investments Co. increased its stake in shares of Sysco by 14.2% in the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock worth $26,092,000 after acquiring an additional 42,903 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock worth $17,166,000 after acquiring an additional 1,710 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SYY shares. Citigroup boosted their price target on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Piper Sandler lifted their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Finally, 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 note on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.50.

Sysco Stock Performance

Shares of Sysco stock opened at $82.05 on Wednesday. The firm has a market cap of $39.31 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.77 and a beta of 0.63. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The business’s fifty day simple moving average is $83.16 and its 200-day simple moving average is $80.46.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company 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. Equities analysts forecast that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders 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 currently 60.11%.

Insider Activity

In other news, EVP Ronald L. Phillips sold 506 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 36,313 shares in the company, valued at approximately $3,053,560.17. This represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 quarter, insiders have sold 14,508 shares of company stock valued at $1,215,250. 0.56% of the stock is currently owned by insiders.

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.