Amundi Purchases 995,498 Shares of Sysco Corporation $SYY

Key Points

• Amundi increased its investment in Sysco Corporation by 36.5%, acquiring an additional 995,498 shares, bringing its total to 3,725,508 shares valued at approximately $280.9 million.
• Sysco Corporation reported a strong quarterly performance with earnings per share (EPS) of $1.48, exceeding estimates and revealing a revenue of $21.14 billion, up 2.8% year-over-year.
• The company declared a quarterly dividend of $0.54 per share, resulting in an annualized dividend of $2.16 and a yield of 2.7%, with a payout ratio of 57.91%.

Amundi lifted its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 36.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,725,508 shares of the company's stock after buying an additional 995,498 shares during the quarter. Amundi owned about 0.77% of Sysco worth $280,941,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SYY. Boyd Watterson Asset Management LLC OH increased its stake in 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 boosted its holdings 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 valued at $16,772,000 after buying an additional 4,932 shares during the period. Fiduciary Trust Co boosted its holdings in shares of Sysco by 0.3% in the fourth quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock valued at $5,084,000 after buying an additional 196 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in Sysco during the first quarter worth $202,000. Finally, Golden State Wealth Management LLC boosted its holdings in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

Sysco stock traded down $0.06 during trading hours on Friday, reaching $82.45. 2,675,007 shares of the stock were exchanged, compared to its average volume of 2,683,667. The company has a market cap of $39.97 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 2.55 and a beta of 0.80. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.17. The stock has a 50 day moving average of $79.29 and a two-hundred day moving average of $75.06.

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

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders 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 dividend yield of 2.6%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is presently 57.91%.

Insider Buying and Selling

In other news, EVP Ronald L. Phillips sold 7,351 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total value of $595,431.00. Following the sale, the executive vice president directly owned 41,837 shares in the company, valued at approximately $3,388,797. This trade represents a 14.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 in the company, 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 90 days, insiders sold 91,377 shares of company stock worth $7,361,490. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group set a $90.00 price target on shares of Sysco in a research report on Wednesday, July 30th. 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 report on Wednesday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Truist Financial increased their price objective on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Citigroup initiated coverage on shares of Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target on the stock. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

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.