Bridges Investment Management Inc. Increases Stake in Sysco Corporation $SYY

Bridges Investment Management Inc. increased its position in Sysco Corporation (NYSE:SYY - Free Report) by 14.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,852 shares of the company's stock after acquiring an additional 3,404 shares during the quarter. Bridges Investment Management Inc.'s holdings in Sysco were worth $2,034,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SYY. Boston Partners raised its stake in shares of Sysco by 24.8% during the 1st quarter. Boston Partners now owns 15,199,828 shares of the company's stock valued at $1,139,798,000 after purchasing an additional 3,015,714 shares during the period. Canoe Financial LP raised its stake 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 valued at $107,393,000 after purchasing an additional 1,426,332 shares during the period. Nuveen LLC bought a new stake in shares of Sysco during the 1st quarter valued at $85,341,000. Amundi raised its stake in shares of Sysco by 36.5% during the 1st quarter. Amundi now owns 3,725,508 shares of the company's stock valued at $280,941,000 after purchasing an additional 995,498 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Sysco by 1,940.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company's stock valued at $76,290,000 after purchasing an additional 966,826 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Performance

Shares of NYSE SYY opened at $78.78 on Friday. The stock has a market cap of $37.70 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.47 and a beta of 0.82. 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 1-year low of $67.12 and a 1-year high of $83.47. The stock's 50-day moving average is $80.75 and its 200 day moving average is $76.51.

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

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is currently 57.91%.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,338 shares of company stock worth $7,439,331. 0.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SYY. Bank of America boosted their price objective on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Morgan Stanley boosted their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Guggenheim boosted their price objective on Sysco from $87.00 to $89.00 and gave the company a "buy" rating in a research note on Monday, October 6th. Weiss Ratings lowered Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Finally, Citigroup raised their price target on Sysco from $84.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Sysco has an average rating of "Moderate Buy" and a consensus 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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