Legal & General Group Plc Makes New $195.91 Million Investment in Sysco Corporation $SYY

Legal & General Group Plc bought a new position in shares of Sysco Corporation (NYSE:SYY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,344,038 shares of the company’s stock, valued at approximately $195,915,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Montag A & Associates Inc. increased its position in Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after acquiring an additional 123 shares in the last quarter. United Community Bank lifted its position in shares of Sysco by 11.4% during the fourth quarter. United Community Bank now owns 1,224 shares of the company’s stock worth $90,000 after purchasing an additional 125 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Sysco by 1.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock valued at $827,000 after purchasing an additional 138 shares during the last quarter. Diversify Wealth Management LLC grew its stake in shares of Sysco by 1.6% during the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after purchasing an additional 143 shares during the last quarter. Finally, Arax Advisory Partners increased its holdings in shares of Sysco by 2.4% in the fourth quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock valued at $458,000 after purchasing an additional 145 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Citigroup increased their price objective on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Morgan Stanley boosted their price objective on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Finally, Piper Sandler upped their target price on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Insider Activity at Sysco

In related news, EVP Ronald L. Phillips sold 506 shares of Sysco stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $84.09, for a total transaction of $42,549.54. Following the transaction, the executive vice president owned 36,313 shares of the company’s stock, valued at $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 this link. 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 three months, insiders sold 14,508 shares of company stock valued at $1,215,250. Corporate insiders own 0.56% of the company’s stock.

Sysco Stock Performance

Shares of Sysco stock opened at $83.28 on Thursday. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. 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 market capitalization of $39.90 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.85 and a beta of 0.64. The firm has a fifty day moving average of $82.91 and a two-hundred day moving average of $80.61.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business 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%.The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous 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. As a group, equities research analysts predict that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.6%. Sysco’s dividend payout ratio is 60.11%.

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.