Rakuten Investment Management Inc. Purchases 7,657 Shares of Sysco Corporation $SYY

Rakuten Investment Management Inc. increased its position in shares of Sysco Corporation (NYSE:SYY) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,869 shares of the company’s stock after acquiring an additional 7,657 shares during the period. Rakuten Investment Management Inc.’s holdings in Sysco were worth $6,740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SYY. N.E.W. Advisory Services LLC acquired a new position in Sysco during the second quarter valued at approximately $29,000. Salomon & Ludwin LLC lifted its stake in Sysco by 718.6% during the third quarter. Salomon & Ludwin LLC now owns 352 shares of the company’s stock worth $27,000 after purchasing an additional 309 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Sysco by 87.6% in the 1st 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. Markowski Investments acquired a new stake in shares of Sysco in the 2nd quarter valued at $31,000. Finally, Parvin Asset Management LLC bought a new position in shares of Sysco in the 2nd quarter valued at $32,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Down 2.3%

Shares of NYSE SYY opened at $75.14 on Friday. The firm has a market cap of $36.96 billion, a PE ratio of 16.55, a P/E/G ratio of 2.17 and a beta of 0.66. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The company’s fifty day simple moving average is $80.00 and its 200 day simple moving average is $80.49. The company has a quick ratio of 0.77, a current ratio of 1.46 and a debt-to-equity ratio of 3.18.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 EPS for the quarter, hitting analysts’ consensus estimates of $1.19. Sysco had a net margin of 2.12% and a return on equity of 79.24%. The business had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $22.02 billion. During the same period last year, the company posted $1.15 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Sysco Corporation will post 5.06 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, October 2nd. Sysco’s dividend payout ratio is 60.11%.

Insider Transactions at Sysco

In other news, Director Thomas Gerard Ondrof bought 2,500 shares of Sysco stock in a transaction dated Wednesday, November 4th. The stock was bought at an average cost of $76.62 per share, for a total transaction of $191,550.00. Following the purchase, the director directly owned 2,500 shares in the company, valued at approximately $191,550. This represents a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ronald Phillips sold 7,350 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the sale, the executive vice president directly owned 38,650 shares of the company’s stock, valued at $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 15,525 shares of company stock worth $1,299,736 in the last three months. Insiders own 0.55% of the company’s stock.

Key Stories Impacting Sysco

Here are the key news stories impacting Sysco this week:

• Positive Sentiment: Director Thomas Gerard Ondrof bought 2,500 shares at an average price of $76.62, a modest insider-purchase signal. SEC insider transaction filing
• Neutral Sentiment: UBS said Sysco’s execution remains on track despite first-quarter challenges, offering a more constructive view of operations. UBS commentary
• Negative Sentiment: Sysco’s quarterly revenue missed analysts’ expectations, and reports cited softer sales guidance as the main reason investors reacted poorly. Adjusted EPS matched consensus at $1.19, while revenue grew 2.8% year over year to $21.74 billion. Earnings and guidance report
• Negative Sentiment: The planned $29.1 billion Jetro Restaurant Depot acquisition remains subject to FTC clearance. A shareholder-investigation notice highlighted potential regulatory and cost exposure, adding uncertainty around the deal. Investigation notice
• Negative Sentiment: Citigroup lowered its price target to $84 from $87 and kept a neutral rating; JPMorgan also reduced its target, to $92 from $95. Both targets remain above the cited share price, but the cuts signal more cautious expectations. Citigroup rating information JPMorgan price-target update

Wall Street Analyst Weigh In

A number of research firms have recently commented on SYY. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Weiss Ratings lowered shares of Sysco from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. BMO Capital Markets upped their target price on Sysco from $90.00 to $98.00 in a report on Wednesday, August 5th. UBS Group upped their price objective 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. Finally, Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of Sysco in a research report on Wednesday, September 16th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $91.13.

Sysco Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.