Alyeska Investment Group L.P. Has $41.01 Million Stock Position in Sysco Corporation $SYY

Key Points

• Alyeska Investment Group increased its Sysco holdings by 924% during the second quarter, acquiring 442,700 additional shares. Its position totaled 490,612 shares worth approximately $41.01 million.
• Analyst sentiment is generally positive, with Sysco holding a “Moderate Buy” consensus rating and an average price target of $89.50. Nine analysts rate the stock a Buy, six recommend Hold, and one recommends Sell.
• Sysco exceeded quarterly earnings and revenue expectations, reporting $1.53 in EPS and $22.12 billion in revenue, while revenue grew 4.7% year over year. The company also declared a quarterly dividend of $0.55 per share, representing a 2.7% yield.

Alyeska Investment Group L.P. lifted its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 924.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 490,612 shares of the company's stock after acquiring an additional 442,700 shares during the period. Alyeska Investment Group L.P. owned approximately 0.10% of Sysco worth $41,005,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Lloyd Advisory Services LLC. bought a new position in shares of Sysco during the fourth quarter valued at about $25,000. Motiv8 Investments LLC bought a new position in shares of Sysco during the 4th quarter worth approximately $25,000. N.E.W. Advisory Services LLC bought a new position in shares of Sysco during the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. boosted its stake in shares of Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock worth $26,000 after buying an additional 170 shares during the last quarter. Finally, Bard Associates Inc. purchased a new position in shares of Sysco in the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SYY shares. Wall Street Zen raised Sysco from a "hold" rating to a "buy" rating in a research report on Saturday. Morgan Stanley boosted their price objective on Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 16th. Weiss Ratings upgraded Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 19th. Melius Research lowered Sysco from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Finally, Citigroup lifted their target price on Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.50.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 7,350 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the sale, the executive vice president owned 38,650 shares of the company's stock, valued at approximately $3,231,526.50. This represents a 15.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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. Insiders have sold a total of 14,508 shares of company stock worth $1,215,250 over the last three months. 0.56% of the stock is currently owned by insiders.

Sysco Stock Performance

Shares of SYY stock opened at $81.95 on Monday. The stock has a market capitalization of $39.26 billion, a P/E ratio of 22.39, a PEG ratio of 2.80 and a beta of 0.64. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The firm's 50 day moving average is $83.05 and its 200 day moving average is $80.54. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the firm earned $1.48 EPS. Sysco's revenue for the quarter was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, sell-side analysts anticipate that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be given a $0.55 dividend. 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 dividend payout ratio (DPR) is 60.11%.

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.

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