Man Group plc Makes New Investment in Sysco Corporation $SYY

Man Group plc acquired a new stake in Sysco Corporation (NYSE:SYY) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,679,724 shares of the company’s stock, valued at approximately $140,391,000. Man Group plc owned approximately 0.35% of Sysco at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Sysco during the 2nd quarter worth about $3,596,356,000. Norges Bank bought a new position in Sysco in the 4th quarter valued at about $542,780,000. Wellington Management Group LLP lifted its position in Sysco by 3,977.1% during the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after acquiring an additional 4,595,819 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Sysco during the second quarter worth approximately $313,503,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Sysco during the second quarter worth approximately $273,323,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SYY shares. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research report on Tuesday, April 28th. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Citigroup boosted their price objective on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Sanford C. Bernstein lowered their target price on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Sysco Price Performance

Shares of NYSE:SYY opened at $83.50 on Wednesday. The firm has a 50 day moving average of $82.82 and a 200-day moving average of $80.61. The stock has a market capitalization of $40.01 billion, a PE ratio of 22.81, a PEG ratio of 2.86 and a beta of 0.64. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping 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 was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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 research analysts predict that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Announces Dividend

The company 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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 2nd. Sysco’s dividend payout ratio is presently 60.11%.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 506 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $84.09, for a total transaction of $42,549.54. Following the sale, the executive vice president owned 36,313 shares in the company, valued at $3,053,560.17. The trade was a 1.37% decrease in their position. The sale was disclosed in a legal 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. Over the last 90 days, insiders sold 14,508 shares of company stock worth $1,215,250. 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.