83,255 Shares in Sysco Corporation $SYY Purchased by Cantor Fitzgerald Investment Advisors L.P.

Key Points

• Cantor Fitzgerald Investment Advisors L.P. purchased 83,255 shares in Sysco Corporation, valued at approximately $6.31 million, during the second quarter.
• Analysts currently give Sysco a consensus rating of "Moderate Buy" with a target price averaging $85.69, with several firms increasing their price targets in recent reports.
• Sysco announced a $0.54 quarterly dividend to be paid on October 24th, representing an annualized yield of 2.6%.

Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 83,255 shares of the company's stock, valued at approximately $6,306,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. boosted its position in Sysco by 1.0% during the first quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock worth $1,280,970,000 after purchasing an additional 162,961 shares during the period. Boston Partners boosted its holdings 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 buying an additional 3,015,714 shares during the period. Diamond Hill Capital Management Inc. grew its stake in Sysco by 2.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company's stock valued at $551,810,000 after buying an additional 146,573 shares during the last quarter. Northern Trust Corp raised its holdings in Sysco by 2.6% in the 1st quarter. Northern Trust Corp now owns 5,828,930 shares of the company's stock valued at $437,403,000 after acquiring an additional 145,477 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Sysco by 8.3% during 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 worth $381,747,000 after acquiring an additional 391,614 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SYY has been the topic of several research reports. Bank of America upped their target price on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company set a $88.00 price target on Sysco and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Truist Financial increased their price objective on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Morgan Stanley upped their price target on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold 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 $85.69.

Sysco Stock Performance

NYSE:SYY opened at $82.85 on Thursday. The company has a market cap of $40.16 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 2.55 and a beta of 0.82. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.24. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The stock has a fifty day moving average price of $80.75 and a 200-day moving average price of $75.98.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. The business had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.Sysco's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts anticipate that Sysco Corporation will post 4.58 EPS 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 paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is 57.91%.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was 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 directly owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the sale, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. This represents a 55.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,338 shares of company stock valued at $7,439,331. 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.

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY - Free Report).

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.