Hsbc Holdings PLC Buys 47,861 Shares of Sysco Corporation $SYY

Key Points

• Hsbc Holdings PLC increased its stake in Sysco Corporation by 5.7%, owning 892,210 shares valued at approximately $66.82 million.
• Sysco's recent earnings report showed an adjusted EPS of $1.48, surpassing estimates, with revenue of $21.14 billion indicating a 2.8% year-over-year increase.
• The company has declared a quarterly dividend of $0.54 with a dividend yield of 2.7%, payable on October 24th.

Hsbc Holdings PLC grew its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 892,210 shares of the company's stock after acquiring an additional 47,861 shares during the quarter. Hsbc Holdings PLC owned 0.18% of Sysco worth $66,824,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC raised its stake in Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares in the last quarter. Parvin Asset Management LLC acquired a new position in Sysco in the fourth quarter valued at about $29,000. Golden State Wealth Management LLC raised its stake in Sysco by 48.4% in the first 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 in the last quarter. N.E.W. Advisory Services LLC acquired a new position in Sysco in the first quarter valued at about $33,000. Finally, Capital A Wealth Management LLC acquired a new position in Sysco during the fourth quarter worth about $34,000. Institutional investors own 83.41% of the company's stock.

Insiders Place Their Bets

In other news, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value 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. The trade was a 55.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president 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 disclosure for this sale can be found here. Insiders have sold 84,026 shares of company stock valued at $6,766,059 in the last three months. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on SYY. Bank of America boosted their target price on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company set a $88.00 target price on Sysco and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Truist Financial boosted their target price on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Morgan Stanley boosted their target price on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Finally, Barclays boosted their target price on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Sysco Trading Down 1.2%

Shares of SYY stock traded down $0.9530 on Monday, hitting $79.3370. The company had a trading volume of 2,369,429 shares, compared to its average volume of 3,313,996. The firm has a market cap of $38.46 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.49 and a beta of 0.83. The stock's 50-day moving average is $78.14 and its two-hundred day moving average is $74.43. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.64.

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

Sysco Announces Dividend

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 dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is currently 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.