CenterBook Partners LP Boosts Stock Position in Sysco Corporation $SYY

Key Points

• CenterBook Partners LP boosted its Sysco stake by 234% in the fourth quarter, bringing its holdings to 65,463 shares worth about $4.82 million.
• Sysco also saw continued institutional buying, with several other investors adding to positions and 83.41% of the stock now held by hedge funds and other institutions. Separately, Director John M. Hinshaw bought 13,304 shares for about $1.0 million.
• The company increased its quarterly dividend to $0.55 per share from $0.54, while analysts currently rate the stock a Moderate Buy with an average price target of $88.15.

CenterBook Partners LP grew its stake in Sysco Corporation (NYSE:SYY - Free Report) by 234.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,463 shares of the company's stock after purchasing an additional 45,863 shares during the period. CenterBook Partners LP's holdings in Sysco were worth $4,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Manchester Capital Management LLC grew its position in Sysco by 73.5% in the fourth quarter. Manchester Capital Management LLC now owns 3,301 shares of the company's stock worth $243,000 after acquiring an additional 1,398 shares during the period. Hilton Head Capital Partners LLC purchased a new position in Sysco in the fourth quarter worth approximately $36,000. Syon Capital LLC grew its position in Sysco by 18.4% in the fourth quarter. Syon Capital LLC now owns 7,405 shares of the company's stock worth $546,000 after acquiring an additional 1,153 shares during the period. Cookson Peirce & Co. Inc. grew its position in Sysco by 12.5% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 16,291 shares of the company's stock worth $1,200,000 after acquiring an additional 1,811 shares during the period. Finally, 111 Capital purchased a new position in Sysco in the fourth quarter worth approximately $373,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sysco

In related news, Director John M. Hinshaw bought 13,304 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the acquisition, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.56% of the company's stock.

Sysco Trading Up 0.1%

NYSE:SYY opened at $76.36 on Monday. The firm has a market cap of $36.51 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 3.12 and a beta of 0.65. The stock has a fifty day moving average price of $74.45 and a 200 day moving average price of $78.11. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). The company had revenue of $20.52 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Sell-side analysts anticipate that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.9%. This is a boost from Sysco's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. Sysco's dividend payout ratio (DPR) is 59.83%.

Analyst Upgrades and Downgrades

SYY has been the subject of several analyst reports. UBS Group lowered their price objective on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 2nd. Wells Fargo & Company increased their price objective on Sysco from $92.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, February 19th. Sanford C. Bernstein lowered their price objective on Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a research report on Wednesday, April 29th. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Piper Sandler lowered their price objective on Sysco from $83.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and an average price target of $88.15.

Sysco Profile

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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