Banque Cantonale Vaudoise Acquires 12,641 Shares of Sysco Corporation $SYY

Key Points

• Banque Cantonale Vaudoise increased its Sysco stake by 301.9% in the first quarter, buying 12,641 shares and bringing its total holdings to 16,828 shares worth about $1.2 million.
• Sysco recently reported quarterly earnings of $0.94 per share, slightly below estimates, while revenue came in at $20.52 billion, also just under expectations but still up 4.7% year over year.
• The company raised its quarterly dividend to $0.55 per share from $0.54, giving Sysco an annualized payout of $2.20 and a yield of about 2.7%.

Banque Cantonale Vaudoise grew its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 301.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,828 shares of the company's stock after buying an additional 12,641 shares during the period. Banque Cantonale Vaudoise's holdings in Sysco were worth $1,200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SYY. Teacher Retirement System of Texas raised its holdings in shares of Sysco by 8.0% in the fourth quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company's stock worth $27,307,000 after buying an additional 27,510 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Sysco by 9.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company's stock valued at $30,445,000 after acquiring an additional 35,647 shares during the period. Nicholas Company Inc. purchased a new position in Sysco during the 4th quarter valued at $2,278,000. Nordea Investment Management AB grew its position in Sysco by 38.8% in the 4th quarter. Nordea Investment Management AB now owns 1,952,615 shares of the company's stock valued at $144,552,000 after acquiring an additional 545,688 shares during the last quarter. Finally, Norges Bank bought a new position in Sysco in the 4th quarter valued at $542,780,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on SYY shares. Weiss Ratings downgraded Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, March 30th. Sanford C. Bernstein reduced their price target on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 29th. UBS Group decreased their price objective on shares of Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Citigroup boosted their price objective on shares of Sysco from $78.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Finally, Guggenheim dropped their target price on shares of Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, April 2nd. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.15.

Sysco Stock Up 2.5%

NYSE:SYY opened at $82.83 on Friday. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a 50-day moving average of $76.01 and a 200 day moving average of $78.52. The firm has a market cap of $39.61 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The business had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, research analysts anticipate that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a $0.55 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from Sysco's previous quarterly dividend of $0.54. Sysco's dividend payout ratio (DPR) is 59.83%.

Insider Activity at Sysco

In related news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares in the company, valued at approximately $3,021,834. The trade was a 49.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.56% of the company's stock.

About Sysco

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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