Credit Agricole S A Grows Position in Sysco Corporation $SYY

Key Points

• Credit Agricole S A increased its stake in Sysco Corporation by 35.9%, owning 184,852 shares valued at approximately $13.87 million, as reported in their recent 13F filing.
• Analysts remain optimistic about Sysco's performance, with several brokerages raising their target prices, providing a consensus target of $85.69 and a Moderate Buy rating.
• Sysco announced a quarterly dividend of $0.54 per share, equating to an annualized dividend yield of 2.7%, following reports of better-than-expected earnings and revenue growth.

Credit Agricole S A raised its position in Sysco Corporation (NYSE:SYY - Free Report) by 35.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,852 shares of the company's stock after purchasing an additional 48,813 shares during the quarter. Credit Agricole S A's holdings in Sysco were worth $13,871,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. NorthCrest Asset Manangement LLC raised its holdings in shares of Sysco by 4.9% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock worth $226,000 after purchasing an additional 139 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after purchasing an additional 140 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of Sysco by 1.6% during the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock valued at $627,000 after buying an additional 143 shares during the period. One Wealth Advisors LLC raised its holdings in shares of Sysco by 3.3% during the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock valued at $353,000 after buying an additional 151 shares during the period. Finally, Lcnb Corp raised its holdings in shares of Sysco by 2.9% during the 1st quarter. Lcnb Corp now owns 5,985 shares of the company's stock valued at $449,000 after buying an additional 166 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SYY. Bank of America raised their target price on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday, July 18th. UBS Group set a $90.00 target price on Sysco in a report on Wednesday, July 30th. Morgan Stanley raised their target price on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Barclays raised their target price on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

Sysco Price Performance

SYY stock opened at $80.8660 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $82.64. The stock's 50 day moving average is $77.93 and its two-hundred day moving average is $74.27. The company has a market capitalization of $39.20 billion, a PE ratio of 21.68, a P/E/G ratio of 2.46 and a beta of 0.83.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data 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. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. During the same period in the previous year, the business earned $1.39 EPS. Sysco's revenue for the quarter was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. 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 given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. Sysco's payout ratio is 57.91%.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the transaction, the executive vice president owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,026 shares of company stock valued at $6,766,059. Insiders own 0.54% of the company's stock.

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.

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