Guggenheim Capital LLC Has $30.68 Million Position in Sysco Corporation $SYY

Key Points

• Guggenheim Capital LLC reduced its stake in Sysco Corporation by 10.1%, now owning approximately $30.68 million worth of shares.
• Recent analyst ratings for Sysco include a target price increase from $81.00 to $93.00 by Bank of America, indicating a positive outlook for the stock.
• Sysco has declared a quarterly dividend of $0.54 payable on October 24, reflecting an annual yield of 2.7%.

Guggenheim Capital LLC lowered its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 10.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 408,894 shares of the company's stock after selling 46,033 shares during the period. Guggenheim Capital LLC owned about 0.08% of Sysco worth $30,683,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Northern Trust Corp raised its holdings in shares of Sysco by 11.6% during the 4th quarter. Northern Trust Corp now owns 5,683,453 shares of the company's stock valued at $434,557,000 after purchasing an additional 588,844 shares in the last quarter. AdvisorShares Investments LLC bought a new position in shares of Sysco during the 4th quarter valued at $616,000. AQR Capital Management LLC raised its holdings in shares of Sysco by 3.6% during the 4th quarter. AQR Capital Management LLC now owns 201,391 shares of the company's stock valued at $15,398,000 after purchasing an additional 6,981 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Sysco by 26.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 30,510 shares of the company's stock valued at $2,333,000 after purchasing an additional 6,391 shares in the last quarter. Finally, Voleon Capital Management LP bought a new position in shares of Sysco during the 4th quarter valued at $343,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction dated 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 in the company, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,026 shares of company stock worth $6,766,059. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of several recent analyst reports. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the stock an "overweight" rating in a report on Tuesday, July 29th. BMO Capital Markets dropped their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Bank of America lifted their target price on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Truist Financial lifted their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Citigroup started coverage on shares of Sysco in a research report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Sysco has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Sysco Price Performance

Shares of Sysco stock opened at $79.65 on Wednesday. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The firm's 50-day simple moving average is $78.33 and its 200-day simple moving average is $74.52. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.64. The firm has a market cap of $38.61 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 2.46 and a beta of 0.83.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate 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 firm's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, research analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a $0.54 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. Sysco's payout ratio is 57.91%.

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.

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