146,117 Shares in Sysco Corporation $SYY Acquired by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired 146,117 shares of Sysco Corporation, valued at approximately $10.97 million, indicating growing institutional interest in the company.
• Sysco recently reported earnings of $1.48 per share, exceeding expectations, alongside a revenue of $21.14 billion, marking a 2.8% increase from the previous year.
• The company declared a quarterly dividend of $0.54 per share, set to be paid on October 24th, reflecting a dividend yield of 2.7%.

Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 146,117 shares of the company's stock, valued at approximately $10,965,000.

A number of other large investors have also added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC grew its position in Sysco by 4.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock worth $226,000 after buying an additional 139 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Sysco by 1.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock valued at $627,000 after purchasing an additional 143 shares in the last quarter. One Wealth Advisors LLC boosted its holdings in shares of Sysco by 3.3% in the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock valued at $353,000 after purchasing an additional 151 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in shares of Sysco by 4.5% in the 1st quarter. Synovus Financial Corp now owns 3,681 shares of the company's stock valued at $276,000 after purchasing an additional 157 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SYY shares. UBS Group set a $90.00 target price on Sysco in a report on Wednesday, July 30th. Truist Financial raised their target price on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. BMO Capital Markets reduced their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Guggenheim raised their price objective on Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Citigroup started coverage on Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $85.69.

Sysco Trading Up 0.8%

Shares of Sysco stock opened at $80.28 on Thursday. The stock has a market cap of $38.92 billion, a P/E ratio of 21.52, a P/E/G ratio of 2.47 and a beta of 0.83. The stock's 50 day simple moving average is $78.46 and its 200-day simple moving average is $74.56. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $82.64. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's payout ratio is presently 57.91%.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 6,286 shares of Sysco stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total transaction of $509,166.00. Following the sale, the executive vice president owned 34,404 shares of the company's stock, valued at approximately $2,786,724. The trade was a 15.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,026 shares of company stock worth $6,766,059. Corporate insiders own 0.54% of the company's stock.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.