391,724 Shares in Sysco Corporation $SYY Bought by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC purchased 391,724 shares of Sysco Corporation, valued at approximately $29.4 million, increasing its stake to 0.08% of the company.
• Several analysts have raised their target prices for Sysco, with Guggenheim increasing theirs to $87.00 and Bank of America to $93.00, while the average rating remains a "Moderate Buy."
• Sysco has declared a quarterly dividend of $0.54 per share, which reflects an annualized amount of $2.16 and a dividend yield of 2.6%.

Kingstone Capital Partners Texas LLC acquired a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 391,724 shares of the company's stock, valued at approximately $29,396,000. Kingstone Capital Partners Texas LLC owned approximately 0.08% of Sysco as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of SYY. Invesco Ltd. grew its stake in Sysco by 1.0% during the first quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock valued at $1,280,970,000 after acquiring an additional 162,961 shares in the last quarter. Boston Partners lifted its stake in shares of Sysco by 24.8% during the 1st quarter. Boston Partners now owns 15,199,828 shares of the company's stock worth $1,139,798,000 after purchasing an additional 3,015,714 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Sysco by 2.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company's stock valued at $551,810,000 after purchasing an additional 146,573 shares during the period. Northern Trust Corp boosted its stake in shares of Sysco by 2.6% in the first quarter. Northern Trust Corp now owns 5,828,930 shares of the company's stock worth $437,403,000 after buying an additional 145,477 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Sysco by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company's stock valued at $381,747,000 after purchasing an additional 391,614 shares during the period. Institutional investors own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares of the company's stock, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,338 shares of company stock valued at $7,439,331. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SYY shares. Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Guggenheim lifted their price target on Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Truist Financial upped their price target on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Barclays lifted 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. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Trading Up 0.6%

SYY stock traded up $0.49 during mid-day trading on Friday, reaching $82.42. The company had a trading volume of 7,527,001 shares, compared to its average volume of 2,871,928. The firm has a 50 day moving average of $80.19 and a 200 day moving average of $75.59. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.24. The company has a market capitalization of $39.95 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 2.55 and a beta of 0.80. 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 released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. During the same quarter last year, the business earned $1.39 earnings per share. The firm's revenue was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, equities analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be given a $0.54 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. Sysco's dividend payout ratio (DPR) is presently 57.91%.

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.