Graham Capital Management L.P. Takes $1.02 Million Position in Sysco Corporation $SYY

Key Points

• Graham Capital Management L.P. made a new investment in Sysco Corporation, acquiring 13,615 shares valued at approximately $1.02 million during the first quarter.
• Sysco received multiple upgrades from analysts, with price targets set as high as $90.00 and a consensus rating of "Moderate Buy".
• The company announced a quarterly dividend of $0.54 per share, reflecting an annual yield of 2.7%, with the payment date set for October 24th.

Graham Capital Management L.P. purchased a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 13,615 shares of the company's stock, valued at approximately $1,022,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in Sysco by 1.0% during the first quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock valued at $1,280,970,000 after purchasing an additional 162,961 shares during the last quarter. Boston Partners grew its holdings in Sysco by 24.8% during the first quarter. Boston Partners now owns 15,199,828 shares of the company's stock valued at $1,139,798,000 after purchasing an additional 3,015,714 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Sysco by 2.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company's stock valued at $551,810,000 after purchasing an additional 146,573 shares during the last quarter. Northern Trust Corp grew its holdings in Sysco by 2.6% during the first quarter. Northern Trust Corp now owns 5,828,930 shares of the company's stock valued at $437,403,000 after purchasing an additional 145,477 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Sysco by 19.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,695,636 shares of the company's stock worth $359,028,000 after acquiring an additional 777,271 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays raised their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Guggenheim raised their price objective on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Citigroup assumed coverage on shares of Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective on the stock. Wall Street Zen upgraded shares of Sysco from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Morgan Stanley raised their price objective on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Sysco has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares of the company's stock, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares of the company's stock, 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 91,377 shares of company stock valued at $7,361,490. Company insiders own 0.54% of the company's stock.

Sysco Stock Performance

SYY stock traded down $0.06 during midday trading on Friday, hitting $82.45. The stock had a trading volume of 2,675,007 shares, compared to its average volume of 2,683,667. The firm has a market capitalization of $39.97 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 2.55 and a beta of 0.80. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.17. The stock has a 50-day simple moving average of $79.29 and a 200 day simple moving average of $75.06. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

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 the consensus estimate of $1.39 by $0.09. The firm had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.Sysco's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.6%. 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.