Sysco Corporation $SYY Shares Acquired by Burgundy Asset Management Ltd.

Key Points

• Burgundy Asset Management Ltd. increased its stake in Sysco Corporation by 38.8% in the first quarter, holding approximately $151.28 million worth of shares.
• Sysco reported earnings of $1.48 EPS for the most recent quarter, surpassing analyst expectations, with a revenue of $21.14 billion.
• Analysts have recently adjusted their price targets for Sysco, with estimates ranging from $77.00 to $93.00, indicating a generally positive outlook for the stock.

Burgundy Asset Management Ltd. increased its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 38.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,015,994 shares of the company's stock after purchasing an additional 563,921 shares during the quarter. Sysco accounts for 1.6% of Burgundy Asset Management Ltd.'s holdings, making the stock its 29th largest holding. Burgundy Asset Management Ltd. owned about 0.42% of Sysco worth $151,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of SYY. Boston Partners raised its stake in Sysco by 24.8% in the first quarter. Boston Partners now owns 15,199,828 shares of the company's stock valued at $1,139,798,000 after buying an additional 3,015,714 shares in the last quarter. Capital Research Global Investors raised its stake in Sysco by 27.3% in the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after buying an additional 1,928,002 shares in the last quarter. Canoe Financial LP raised its stake in Sysco by 29,610.4% in the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after buying an additional 1,426,332 shares in the last quarter. Nuveen LLC acquired a new stake in Sysco in the first quarter valued at $85,341,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Sysco by 9,792.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company's stock valued at $74,978,000 after buying an additional 970,703 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of NYSE:SYY traded down $1.2230 during midday trading on Thursday, hitting $79.7570. The stock had a trading volume of 1,923,091 shares, compared to its average volume of 3,324,241. The company has a market capitalization of $38.66 billion, a PE ratio of 21.38, 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 two-hundred day moving average price of $74.27. 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 $82.64.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. The business 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 quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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

Insider Activity

In other news, EVP Ronald L. Phillips sold 6,286 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total transaction of $509,166.00. Following the transaction, the executive vice president directly owned 34,404 shares of the company's stock, valued at $2,786,724. This represents a 15.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the company'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 approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,026 shares of company stock worth $6,766,059. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYY. Morgan Stanley raised their price target 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 raised their price objective on Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. BMO Capital Markets cut their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, Citigroup initiated coverage on Sysco in a research report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price for the company. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average 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.