Sysco Corporation $SYY Shares Acquired by Freestone Capital Holdings LLC

Key Points

• Freestone Capital Holdings LLC increased its stake in Sysco Corporation by 35.1%, now holding 15,323 shares valued at approximately $1.15 million.
• Sysco reported $1.48 earnings per share for the last quarter, surpassing analysts' expectations of $1.39, and achieved a 2.8% year-over-year revenue growth totaling $21.14 billion.
• A majority of Sysco's stock, about 83.41%, is currently owned by institutional investors, reflecting significant investor confidence.

Freestone Capital Holdings LLC raised its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 35.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,323 shares of the company's stock after buying an additional 3,979 shares during the quarter. Freestone Capital Holdings LLC's holdings in Sysco were worth $1,150,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SYY. Burgundy Asset Management Ltd. grew its position in Sysco by 38.8% in the 1st quarter. Burgundy Asset Management Ltd. now owns 2,015,994 shares of the company's stock worth $151,280,000 after purchasing an additional 563,921 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in shares of Sysco by 42.0% in the first quarter. Northwest & Ethical Investments L.P. now owns 11,868 shares of the company's stock worth $891,000 after acquiring an additional 3,509 shares during the period. CacheTech Inc. boosted its stake in Sysco by 8.8% during the first quarter. CacheTech Inc. now owns 37,406 shares of the company's stock valued at $2,807,000 after buying an additional 3,026 shares during the period. Brandywine Global Investment Management LLC lifted its stake in Sysco by 37.8% in the first quarter. Brandywine Global Investment Management LLC now owns 607,754 shares of the company's stock worth $45,606,000 after purchasing an additional 166,775 shares during the last quarter. Finally, Aberdeen Group plc raised its position in Sysco by 92.0% during the 1st quarter. Aberdeen Group plc now owns 402,714 shares of the company's stock valued at $30,053,000 after purchasing an additional 192,930 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In other news, 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 completion of the sale, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This represents a 41.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm's 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 sale, the executive vice president owned 30,235 shares of the company's stock, valued at $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,026 shares of company stock valued at $6,766,059. Corporate insiders own 0.54% of the company's stock.

Sysco Stock Down 1.5%

Shares of Sysco stock traded down $1.2230 during trading hours on Thursday, hitting $79.7570. The company had a trading volume of 2,048,063 shares, compared to its average volume of 3,324,720. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.64. The company has a market cap of $38.66 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 2.46 and a beta of 0.83. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The company's 50-day moving average is $77.93 and its two-hundred day moving average is $74.27.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter in the prior year, the business earned $1.39 EPS. Sysco's quarterly revenue 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 anticipate 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. Investors of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.7%. Sysco's payout ratio is presently 57.91%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SYY. BMO Capital Markets reduced their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Morgan Stanley lifted their price objective on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Barclays upped their target price on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company set a $88.00 price target on Sysco and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $85.69.

About Sysco

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.