Rakuten Investment Management Inc. Makes New $6.52 Million Investment in Sysco Corporation $SYY

Rakuten Investment Management Inc. acquired a new stake in shares of Sysco Corporation (NYSE:SYY) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 78,212 shares of the company’s stock, valued at approximately $6,523,000.

Other hedge funds have also recently modified their holdings of the company. Lloyd Advisory Services LLC. bought a new stake in Sysco in the 4th quarter valued at $25,000. Motiv8 Investments LLC bought a new position in shares of Sysco during the 4th quarter valued at about $25,000. Sunbelt Securities Inc. grew its position in shares of Sysco by 87.6% during the first quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after purchasing an additional 170 shares in the last quarter. Torren Management LLC bought a new stake in shares of Sysco in the fourth quarter worth about $27,000. Finally, Bard Associates Inc. bought a new stake in shares of Sysco in the fourth quarter worth about $27,000. Hedge funds and other 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 price-to-earnings ratio of 22.39, a price-to-earnings-growth 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 has a 50 day moving average price of $83.05 and a 200-day moving average price of $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 for the quarter, beating the consensus estimate of $1.51 by $0.02. The company 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 quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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 expect that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. Sysco’s dividend payout ratio is currently 60.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SYY. Citigroup increased their price target on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Morgan Stanley raised their target price 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, Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average target price of $89.50.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 506 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.09, for a total value of $42,549.54. Following the completion of the sale, the executive vice president owned 36,313 shares in the company, 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. Insiders have sold a total of 14,508 shares of company stock valued at $1,215,250 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

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.