Friedenthal Financial Takes $984,000 Position in Sysco Corporation $SYY

Key Points

• Friedenthal Financial disclosed a new position in Sysco, buying 13,801 shares valued at about $984,000 in the first quarter.
• Institutional ownership remains heavy, with hedge funds and other investors holding 83.41% of Sysco’s stock. Several large firms, including Vanguard, State Street, and Norges Bank, also reported sizable stakes.
• Sysco recently raised its quarterly dividend to $0.55 per share, up from $0.54, putting the annualized payout at $2.20 and the yield at about 2.7%.

Friedenthal Financial purchased a new stake in Sysco Corporation (NYSE:SYY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,801 shares of the company's stock, valued at approximately $984,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Sysco by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company's stock valued at $4,591,281,000 after buying an additional 814,270 shares in the last quarter. State Street Corp grew its stake in Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company's stock valued at $2,195,973,000 after acquiring an additional 246,542 shares during the period. Capital Research Global Investors grew its stake in Sysco by 0.3% in the 3rd quarter. Capital Research Global Investors now owns 18,360,707 shares of the company's stock valued at $1,511,821,000 after acquiring an additional 46,040 shares during the period. Geode Capital Management LLC increased its holdings in Sysco by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock worth $934,391,000 after acquiring an additional 131,659 shares in the last quarter. Finally, Norges Bank acquired a new position in Sysco during the fourth quarter worth $542,780,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Up 1.6%

NYSE SYY opened at $80.54 on Thursday. The business's fifty day simple moving average is $75.70 and its 200-day simple moving average is $78.43. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The firm has a market cap of $38.51 billion, a PE ratio of 22.31, a P/E/G ratio of 3.24 and a beta of 0.65. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data 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). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm had revenue of $20.52 billion during the quarter, compared to analysts' expectations of $20.56 billion. During the same period in the prior year, the company posted $0.96 EPS. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, equities analysts anticipate that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Sysco's previous quarterly dividend of $0.54. Sysco's payout ratio is 59.83%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SYY shares. Citigroup boosted their target price on shares of Sysco from $78.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Guggenheim cut their price objective on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. UBS Group decreased their target price on Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft lowered Sysco from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a research note on Tuesday, April 28th. Finally, Weiss Ratings cut Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, March 30th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.15.

Insider Activity

In other news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares in the company, valued at $3,021,834. This represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by corporate insiders.

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.

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