Islay Capital Management LLC Purchases New Holdings in Sysco Corporation $SYY

Key Points

• Islay Capital Management LLC has acquired a new position in Sysco Corporation, purchasing 17,201 shares valued at approximately $1,291,000 in the first quarter.
• Sysco reported $1.48 earnings per share for the last quarter, surpassing estimates and showing a 2.8% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.54 per share, indicating a yield of 2.7% and a payout ratio of 57.91%.

Islay Capital Management LLC bought a new stake in Sysco Corporation (NYSE:SYY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,201 shares of the company's stock, valued at approximately $1,291,000.

Other hedge funds also recently modified their holdings of the company. Boyd Watterson Asset Management LLC OH lifted its holdings in shares of Sysco by 106.4% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock valued at $236,000 after purchasing an additional 1,622 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Sysco by 2.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock worth $16,772,000 after acquiring an additional 4,932 shares during the last quarter. Fiduciary Trust Co increased its stake in shares of Sysco by 0.3% in the fourth quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock worth $5,084,000 after acquiring an additional 196 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of Sysco in the first quarter worth $202,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Price Performance

SYY traded down $0.71 during midday trading on Thursday, reaching $79.59. 1,526,632 shares of the company's stock were exchanged, compared to its average volume of 3,306,008. The firm has a market capitalization of $38.58 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 2.47 and a beta of 0.83. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. Sysco Corporation has a one year low of $67.12 and a one year high of $82.64. The business has a 50-day simple moving average of $78.46 and a two-hundred day simple moving average of $74.56.

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

Sysco Announces Dividend

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

Analyst Ratings Changes

SYY has been the topic of a number of research reports. Barclays upped their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Bank of America increased their target price on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an "overweight" rating in a report on Tuesday, July 29th. BMO Capital Markets decreased their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $85.69.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of the firm's 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 completion of the sale, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ronald L. Phillips sold 6,286 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $81.00, for a total transaction of $509,166.00. Following the sale, the executive vice president directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,026 shares of company stock valued at $6,766,059. Company insiders own 0.54% of the company's stock.

About Sysco

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.