Lombard Odier Asset Management Europe Ltd Makes New $2.42 Million Investment in Sysco Corporation $SYY

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Sysco Corporation (NYSE:SYY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,011 shares of the company’s stock, valued at approximately $2,425,000.

Other large investors also recently made changes to their positions in the company. Nicholas Company Inc. bought a new stake in Sysco during the fourth quarter valued at $2,278,000. Norges Bank acquired a new position in shares of Sysco in the 4th quarter valued at about $542,780,000. Banque Cantonale Vaudoise grew its position in shares of Sysco by 301.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock valued at $1,200,000 after buying an additional 12,641 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Sysco during the 4th quarter valued at about $52,672,000. Finally, Parnassus Investments LLC lifted its holdings in Sysco by 1.0% in the fourth quarter. Parnassus Investments LLC now owns 1,611,005 shares of the company’s stock worth $118,715,000 after acquiring an additional 15,539 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 0.6%

Shares of Sysco stock opened at $81.95 on Friday. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The business’s fifty day moving average price is $83.05 and its two-hundred day moving average price is $80.59. The company has a market capitalization of $39.26 billion, a P/E ratio of 22.39, a PEG ratio of 2.81 and a beta of 0.64.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company 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, research analysts forecast that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, October 2nd. Sysco’s payout ratio is 60.11%.

Analyst Ratings Changes

Several equities analysts have recently commented on SYY shares. Morgan Stanley upped their target price on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Citigroup boosted 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 downgraded Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Piper Sandler increased their target price on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Nine research 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 currently has an average rating of “Moderate Buy” and an average price target of $89.50.

Insider Buying and Selling at Sysco

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

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.