Janney Montgomery Scott LLC Boosts Stock Position in Sysco Corporation $SYY

Key Points

• Janney Montgomery Scott LLC increased its Sysco stake by 6.4% in the first quarter, buying 12,574 more shares and bringing its total holding to 210,161 shares worth about $15.0 million.
• Sysco reported quarterly earnings of $0.94 per share, slightly below expectations, while revenue came in at $20.52 billion, just under consensus but up 4.7% year over year.
• The company raised its quarterly dividend to $0.55 per share from $0.54, and an insider also bought shares recently, signaling some confidence in the stock.

Janney Montgomery Scott LLC increased its stake in Sysco Corporation (NYSE:SYY - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 210,161 shares of the company's stock after purchasing an additional 12,574 shares during the quarter. Janney Montgomery Scott LLC's holdings in Sysco were worth $14,991,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in Sysco in the 4th quarter worth about $542,780,000. Wellington Management Group LLP increased its position in shares of Sysco by 3,977.1% during the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company's stock valued at $387,935,000 after buying an additional 4,595,819 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Sysco by 45.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company's stock worth $416,472,000 after buying an additional 1,754,306 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Sysco by 102.6% in the third quarter. Marshall Wace LLP now owns 2,359,471 shares of the company's stock worth $194,279,000 after buying an additional 1,194,815 shares in the last quarter. Finally, Suvretta Capital Management LLC bought a new position in shares of Sysco in the fourth quarter valued at approximately $79,864,000. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Sanford C. Bernstein reduced their price objective on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a report on Tuesday, April 28th. Guggenheim reduced their price target on shares of Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 2nd. Barclays decreased their price target on shares of Sysco from $92.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Finally, Piper Sandler lowered their price objective on Sysco from $83.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.15.

Sysco Stock Up 0.1%

SYY opened at $83.67 on Thursday. The business's fifty day simple moving average is $76.50 and its 200 day simple moving average is $78.77. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. 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 stock has a market cap of $40.01 billion, a PE ratio of 23.18, a P/E/G ratio of 3.41 and a beta of 0.64.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The firm had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.56 billion. During the same period last year, the firm earned $0.96 EPS. The company's revenue for the quarter was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, research analysts expect that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco's previous quarterly dividend of $0.54. Sysco's dividend payout ratio is presently 59.83%.

Insider Transactions at Sysco

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the transaction, the director directly owned 40,200 shares of the company's stock, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

About Sysco

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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