L2 Asset Management LLC Invests $600,000 in Sysco Corporation $SYY

L2 Asset Management LLC acquired a new position in Sysco Corporation (NYSE:SYY) during the second quarter, Holdings Channel reports. The firm acquired 7,183 shares of the company’s stock, valued at approximately $600,000.

Several other large investors also recently added to or reduced their stakes in SYY. Intech Investment Management LLC raised its holdings in shares of Sysco by 53.1% in the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after acquiring an additional 7,742 shares in the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Sysco by 24.1% during the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after purchasing an additional 2,000 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Sysco by 62.4% in the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after purchasing an additional 13,616 shares during the last quarter. Sei Investments Co. raised its stake in Sysco by 14.2% in the second quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock valued at $26,092,000 after purchasing an additional 42,903 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Sysco by 0.8% in the second quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after purchasing an additional 1,710 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 0.4%

Shares of NYSE SYY opened at $83.50 on Wednesday. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The firm’s 50 day simple moving average is $82.82 and its two-hundred day simple moving average is $80.61. The stock has a market capitalization of $40.01 billion, a P/E ratio of 22.81, a PEG ratio of 2.86 and a beta of 0.64.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period in the previous year, the business posted $1.48 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. 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, analysts expect that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders 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 yield of 2.6%. Sysco’s payout ratio is currently 60.11%.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 506 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.09, for a total transaction of $42,549.54. Following the completion of the sale, the executive vice president directly owned 36,313 shares in the company, valued at $3,053,560.17. This represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 14,508 shares of company stock worth $1,215,250 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SYY shares. Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Citigroup raised their price objective on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Sanford C. Bernstein reduced their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Finally, Piper Sandler raised their price target on 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.50.

Sysco 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.