Mystic Asset Management Inc. Buys Shares of 9,482 Sysco Corporation $SYY

Mystic Asset Management Inc. purchased a new position in shares of Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,482 shares of the company’s stock, valued at approximately $793,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lloyd Advisory Services LLC. acquired a new position in Sysco during the 4th quarter worth about $25,000. Motiv8 Investments LLC acquired a new position in Sysco in the 4th quarter valued at about $25,000. Sunbelt Securities Inc. grew its position in 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 acquiring an additional 170 shares in the last quarter. Torren Management LLC purchased a new stake in Sysco during the fourth quarter worth about $27,000. Finally, Bard Associates Inc. purchased a new stake in Sysco during the 4th quarter worth approximately $27,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ronald L. Phillips sold 367 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $83.39, for a total value of $30,604.13. Following the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at approximately $3,223,023.50. The trade was a 0.94% decrease in their position. The SEC filing for this sale provides additional information. 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. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SYY has been the subject of several recent research reports. Piper Sandler raised their price target 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. Morgan Stanley increased their price objective on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. UBS Group lifted their target price on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Finally, Barclays reduced their price target on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Sysco Price Performance

Sysco stock opened at $83.21 on Friday. 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 company has a fifty day simple moving average of $82.55 and a 200-day simple moving average of $80.62. The stock has a market cap of $39.84 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The firm had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. Sysco’s revenue for the quarter was up 4.7% compared to the same quarter last year. 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 5.1 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be issued a $0.55 dividend. The ex-dividend date 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 presently 60.11%.

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.