Sysco Corporation $SYY Shares Bought by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. significantly increased its holdings in Sysco Corporation by acquiring an additional 544,244 shares, bringing its total ownership to 3,121,188 shares, valued at approximately $234.2 million.
• Several institutional investors made major adjustments to their stakes in Sysco, including a remarkable 6,013.3% increase by Kestra Investment Management LLC in the first quarter.
• Sysco's recent earnings report revealed $1.48 earnings per share, surpassing estimates and reflecting a 2.8% year-over-year revenue increase.

Goldman Sachs Group Inc. boosted its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 21.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,121,188 shares of the company's stock after buying an additional 544,244 shares during the period. Goldman Sachs Group Inc. owned 0.64% of Sysco worth $234,214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC boosted its holdings in shares of Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Sysco during the 1st quarter valued at about $33,000. Capital A Wealth Management LLC bought a new position in shares of Sysco in the 4th quarter valued at about $34,000. Finally, Cheviot Value Management LLC bought a new position in shares of Sysco in the 1st quarter valued at about $34,000. Institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of analyst reports. UBS Group set a $90.00 price target on shares of Sysco in a report on Wednesday, July 30th. Guggenheim increased their price target on shares of Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Truist Financial increased their price objective on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Finally, Bank of America increased their price objective on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Sysco has a consensus rating of "Moderate Buy" and an average target price of $85.69.

Insider Activity at Sysco

In related news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares of the company's stock, valued at $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,338 shares of company stock worth $7,439,331. 0.54% of the stock is currently owned by corporate insiders.

Sysco Trading Up 0.4%

Shares of NYSE:SYY traded up $0.33 during trading on Friday, reaching $81.37. 2,415,722 shares of the company were exchanged, compared to its average volume of 2,483,940. The firm has a market capitalization of $39.44 billion, a PE ratio of 21.81, a P/E/G ratio of 2.51 and a beta of 0.80. The business's fifty day simple moving average is $79.70 and its 200-day simple moving average is $75.35. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.17. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, research analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is presently 57.91%.

Sysco 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.