Bayforest Capital Ltd Invests $268,000 in Sysco Corporation $SYY

Key Points

• Bayforest Capital Ltd has made a new investment in Sysco Corporation, acquiring 3,541 shares valued at approximately $268,000 during the 2nd quarter.
• Sysco reported earnings of $1.48 per share for the last quarter, surpassing analysts' expectations and showing a revenue increase of 2.8% compared to the previous year.
• The company declared a quarterly dividend of $0.54 per share, which will be paid on October 24th, representing an annual yield of 2.7%.

Bayforest Capital Ltd acquired a new position in Sysco Corporation (NYSE:SYY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,541 shares of the company's stock, valued at approximately $268,000.

Other hedge funds also recently made changes to their positions in the company. Chung Wu Investment Group LLC acquired a new position in shares of Sysco in the 2nd quarter worth approximately $30,000. Golden State Wealth Management LLC increased its position in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Sysco in the first quarter worth approximately $33,000. Cheviot Value Management LLC purchased a new position in shares of Sysco in the first quarter worth approximately $34,000. Finally, 1248 Management LLC purchased a new position in shares of Sysco in the first quarter worth approximately $35,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Performance

Shares of SYY opened at $78.78 on Friday. The company's 50 day moving average price is $80.75 and its 200 day moving average price is $76.51. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. The company has a market capitalization of $37.70 billion, a PE ratio of 21.12, a PEG ratio of 2.47 and a beta of 0.82. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

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

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. Sysco's payout ratio is 57.91%.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value 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. The trade was a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 961 shares of Sysco stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the sale, the executive vice president owned 41,501 shares of the company's stock, valued at $3,361,581. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,338 shares of company stock valued at $7,439,331 over the last quarter. Corporate insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SYY shares. Barclays lifted their target price 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. Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. UBS Group set a $90.00 target price on shares of Sysco in a research report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Citigroup boosted their price objective on shares of Sysco from $84.00 to $86.00 and gave the company a "neutral" rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $86.46.

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.

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