Canoe Financial LP Boosts Stock Holdings in Sysco Corporation $SYY

Key Points

• Canoe Financial LP increased its shareholding in Sysco Corporation by 3.2% in the second quarter, holding approximately 1,477,348 shares valued at about $111.9 million.
• Sysco reported a quarterly earnings per share (EPS) of $1.48, exceeding analysts' expectations of $1.39, with a year-over-year revenue increase of 2.8%.
• The company announced a quarterly dividend of $0.54, providing a 2.6% yield for investors, to be paid on October 24th.

Canoe Financial LP lifted its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,477,348 shares of the company's stock after acquiring an additional 46,199 shares during the period. Sysco makes up about 1.6% of Canoe Financial LP's portfolio, making the stock its 26th largest holding. Canoe Financial LP owned approximately 0.30% of Sysco worth $111,894,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH increased its position in Sysco by 106.4% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock worth $236,000 after purchasing an additional 1,622 shares in the last quarter. Gradient Investments LLC increased its position in Sysco by 9.2% during the 2nd quarter. Gradient Investments LLC now owns 189,169 shares of the company's stock worth $14,328,000 after purchasing an additional 15,906 shares in the last quarter. Beacon Financial Group increased its position in Sysco by 55.5% during the 2nd quarter. Beacon Financial Group now owns 9,955 shares of the company's stock worth $754,000 after purchasing an additional 3,554 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Sysco by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock worth $16,772,000 after purchasing an additional 4,932 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new position in Sysco during the 2nd quarter worth approximately $730,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Trading Down 1.1%

Shares of SYY traded down $0.94 during trading hours on Monday, hitting $81.45. 2,302,716 shares of the stock were exchanged, compared to its average volume of 3,276,492. The firm has a market capitalization of $39.48 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 2.55 and a beta of 0.80. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.24. The business has a 50-day moving average of $80.19 and a 200-day moving average of $75.59. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.54 per share. 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 Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction dated 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 completion of the transaction, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction dated Wednesday, July 23rd. The shares were 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 of the company's stock, valued at $2,449,035. This trade represents a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,338 shares of company stock valued at $7,439,331 in the last quarter. Company insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SYY shares. Truist Financial upped their price objective on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. UBS Group set a $90.00 price target on shares of Sysco in a research report on Wednesday, July 30th. Morgan Stanley upped their price target on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and an average target price of $85.69.

Sysco Company 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.