Morningstar Investment Management LLC Buys Shares of 2,684 Sysco Corporation $SYY

Morningstar Investment Management LLC bought a new stake in Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,684 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYY. Farther Finance Advisors LLC boosted its stake in Sysco by 30.9% in the first quarter. Farther Finance Advisors LLC now owns 5,502 shares of the company’s stock valued at $415,000 after acquiring an additional 1,298 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Sysco by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company’s stock valued at $16,772,000 after buying an additional 4,932 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in shares of Sysco during the 1st quarter valued at approximately $202,000. Exchange Traded Concepts LLC lifted its stake in shares of Sysco by 11.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 23,025 shares of the company’s stock valued at $1,728,000 after buying an additional 2,296 shares in the last quarter. Finally, Mission Wealth Management LP lifted its stake in shares of Sysco by 41.6% during the 1st quarter. Mission Wealth Management LP now owns 11,650 shares of the company’s stock valued at $874,000 after buying an additional 3,424 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the sale, the executive vice president directly owned 30,235 shares of the company’s stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president directly owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This represents a 41.54% 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 three months. Insiders own 0.56% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $80.17 on Wednesday. The firm’s 50 day simple moving average is $80.80 and its 200 day simple moving average is $76.46. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The firm has a market capitalization of $38.36 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The business’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. As a group, analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently commented on the stock. Weiss Ratings cut shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Sysco from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group set a $90.00 price target on shares of Sysco in a research note on Wednesday, July 30th. Morgan Stanley upped their price target on shares of Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Finally, Guggenheim upped their target price on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.85.

Sysco Company 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.