Pallas Capital Advisors LLC Makes New $1.27 Million Investment in Sysco Corporation $SYY

Pallas Capital Advisors LLC bought a new stake in Sysco Corporation (NYSE:SYY) during the 2nd quarter, Holdings Channel reports. The firm bought 15,244 shares of the company’s stock, valued at approximately $1,274,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Sysco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after buying an additional 814,270 shares during the period. State Street Corp grew its position in Sysco by 0.9% in the third quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after acquiring an additional 246,542 shares during the period. Geode Capital Management LLC increased its stake in Sysco by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after acquiring an additional 131,659 shares during the last quarter. Norges Bank acquired a new stake in Sysco during the fourth quarter worth $542,780,000. Finally, Morgan Stanley raised its position in Sysco by 9.0% in the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock valued at $446,444,000 after purchasing an additional 500,881 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SYY shares. Morgan Stanley increased their price target on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a report on Tuesday, April 28th. Piper Sandler increased 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. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Barclays reduced their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Hold” and a consensus price target of $89.50.

Sysco Trading Up 0.3%

Shares of NYSE SYY opened at $82.07 on Wednesday. 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 stock has a market capitalization of $39.29 billion, a PE ratio of 22.42, a PEG ratio of 2.84 and a beta of 0.64. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The stock has a fifty day simple moving average of $82.40 and a 200-day simple moving average of $80.63.

Sysco (NYSE:SYY) last announced 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 company had revenue of $22.12 billion during the quarter, compared to analysts’ expectations 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 period last year, the business 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. On average, equities analysts forecast that Sysco Corporation will post 5.1 earnings per share for the current year.

Insider Activity at Sysco

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director directly owned 40,200 shares in the company, valued at approximately $3,021,834. This represents a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ronald L. Phillips sold 6,285 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $83.94, for a total transaction of $527,562.90. Following the sale, the executive vice president owned 39,970 shares in the company, valued at approximately $3,355,081.80. This trade represents a 13.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Company insiders own 0.56% of the company’s stock.

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.