Aptus Capital Advisors LLC Raises Stock Holdings in Sysco Corporation $SYY

Key Points

• Aptus Capital Advisors LLC increased its holdings in Sysco Corporation by 24.9% during the first quarter, now owning 17,207 shares worth approximately $1.29 million.
• Several hedge funds, including Boston Partners and Canoe Financial LP, also significantly raised their stakes in Sysco, indicating strong institutional interest in the stock.
• Sysco recently reported earnings of $1.48 EPS, surpassing expectations, with quarterly revenue of $21.14 billion, reflecting a 2.8% increase year-over-year.

Aptus Capital Advisors LLC raised its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 24.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,207 shares of the company's stock after acquiring an additional 3,429 shares during the period. Aptus Capital Advisors LLC's holdings in Sysco were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SYY. Boston Partners raised 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 acquiring an additional 3,015,714 shares in the last quarter. Canoe Financial LP raised its holdings in shares of Sysco by 29,610.4% during the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock worth $107,393,000 after acquiring an additional 1,426,332 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Sysco during the 1st quarter worth approximately $85,341,000. Burgundy Asset Management Ltd. raised its holdings in shares of Sysco by 251.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock worth $111,026,000 after acquiring an additional 1,039,088 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Sysco by 9,792.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company's stock worth $74,978,000 after acquiring an additional 970,703 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SYY shares. JPMorgan Chase & Co. lifted their target price on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Guggenheim lifted their target price on Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Morgan Stanley lifted their target price on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Bank of America lifted their target price on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Barclays lifted their target price on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $85.69.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the firm'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 transaction, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,026 shares of company stock worth $6,766,059 over the last 90 days. 0.54% of the stock is currently owned by company insiders.

Sysco Price Performance

Shares of SYY stock opened at $80.8660 on Thursday. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $82.64. 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 firm has a market capitalization of $39.20 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.46 and a beta of 0.83. The stock has a 50 day moving average price of $77.93 and a 200 day moving average price of $74.27.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. The company had revenue of $21.14 billion for 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 quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts predict that Sysco Corporation will post 4.58 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 24th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.7%. Sysco's payout ratio is currently 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.

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