DoubleLine ETF Adviser LP Acquires New Holdings in Sysco Corporation $SYY

Key Points

• DoubleLine ETF Adviser LP initiated a new position in Sysco in Q3, acquiring 25,889 shares worth about $2.13 million, while institutional investors collectively own 83.41% of the company.
• Several brokerages raised price targets on Jan. 28, leaving Sysco with a consensus rating of Moderate Buy (10 Buy, 5 Hold) and a consensus target price of $90.31.
• Sysco beat EPS estimates in the most recent quarter ($0.99 vs. $0.98) with revenue up 3% year-over-year, set FY2026 guidance at 4.600 EPS, and declared a quarterly dividend of $0.54 (2.5% yield), though insiders have recently sold shares.

DoubleLine ETF Adviser LP acquired a new position in Sysco Corporation (NYSE:SYY - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,889 shares of the company's stock, valued at approximately $2,132,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jackson Grant Investment Advisers Inc. bought a new position in Sysco in the third quarter worth about $25,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Sysco by 75.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company's stock valued at $26,000 after buying an additional 135 shares in the last quarter. Peterson Wealth Services grew its position in shares of Sysco by 875.7% in the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company's stock worth $30,000 after buying an additional 324 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Sysco in the 2nd quarter worth approximately $31,000. Finally, Vermillion & White Wealth Management Group LLC raised its stake in shares of Sysco by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company's stock worth $32,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYY. Citigroup raised their target price on shares of Sysco from $81.00 to $88.00 and gave the company a "neutral" rating in a research note on Wednesday, January 28th. Jefferies Financial Group increased their price objective on Sysco from $90.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, January 28th. Truist Financial raised their price objective on Sysco from $90.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. Piper Sandler upped their target price on Sysco from $80.00 to $83.00 and gave the company a "neutral" rating in a research report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. increased their price target on Sysco from $85.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, January 28th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus target price of $90.31.

Sysco Stock Performance

Shares of SYY opened at $85.43 on Friday. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30. The stock has a 50-day moving average of $83.45 and a two-hundred day moving average of $79.52. The stock has a market cap of $40.92 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.66 and a beta of 0.58. Sysco Corporation has a one year low of $67.12 and a one year high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.01. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The business had revenue of $20.76 billion for the quarter, compared to analyst estimates of $20.80 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The company's revenue was up 3.0% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. As a group, research analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 2.5%. Sysco's dividend payout ratio (DPR) is currently 58.06%.

Insider Buying and Selling

In other news, Director Sheila Talton sold 2,801 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $82.99, for a total value of $232,454.99. Following the sale, the director owned 12,868 shares in the company, valued at $1,067,915.32. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 5,601 shares of the firm's stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total transaction of $453,681.00. Following the transaction, the executive vice president directly owned 35,965 shares of the company's stock, valued at approximately $2,913,165. This trade represents a 13.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.56% of the company's stock.

Sysco Company 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.

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.