Jones Financial Companies Lllp Boosts Stake in Sysco Corporation $SYY

Key Points

• Jones Financial Companies Lllp increased its holdings in Sysco Corporation by 342.1% in Q1, now owning 206,437 shares valued at $15.49 million.
• Sysco reported Q1 earnings of $1.48 per share, exceeding estimates, and had a revenue of $21.14 billion, marking a 2.8% year-over-year increase.
• The company announced a quarterly dividend of $0.54 per share, with a dividend yield of 2.6%, to be paid on October 24th.

Jones Financial Companies Lllp lifted its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 342.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 206,437 shares of the company's stock after buying an additional 159,745 shares during the period. Jones Financial Companies Lllp's holdings in Sysco were worth $15,491,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Crestline Management LP acquired a new position in Sysco during the fourth quarter worth approximately $229,000. Deutsche Bank AG increased its position in Sysco by 17.3% during the fourth quarter. Deutsche Bank AG now owns 1,409,097 shares of the company's stock worth $107,740,000 after purchasing an additional 208,105 shares during the last quarter. First Manhattan CO. LLC. grew its stake in Sysco by 77.5% during the fourth quarter. First Manhattan CO. LLC. now owns 21,071 shares of the company's stock worth $1,611,000 after buying an additional 9,199 shares during the period. KKM Financial LLC grew its stake in Sysco by 3.3% during the fourth quarter. KKM Financial LLC now owns 31,423 shares of the company's stock worth $2,403,000 after buying an additional 1,008 shares during the period. Finally, JCP Investment Management LLC purchased a new stake in Sysco during the fourth quarter worth approximately $306,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity at Sysco

In other Sysco news, 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 owned 56,304 shares of the company's stock, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 7,351 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total transaction of $595,431.00. Following the completion of the transaction, the executive vice president directly owned 41,837 shares in the company, valued at $3,388,797. This trade represents a 14.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,377 shares of company stock valued at $7,361,490 in the last ninety days. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SYY. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an "overweight" rating in a report on Tuesday, July 29th. Guggenheim increased their price objective on Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Bank of America increased their price objective on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Morgan Stanley increased their target price on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Finally, Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.69.

Sysco Stock Performance

Shares of SYY stock traded down $0.60 during trading on Wednesday, reaching $80.25. 2,135,835 shares of the company's stock were exchanged, compared to its average volume of 2,568,599. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The stock has a market capitalization of $38.90 billion, a PE ratio of 21.51, a PEG ratio of 2.50 and a beta of 0.80. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.17. The firm's fifty day moving average price is $79.53 and its 200-day moving average price is $75.25.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion during the quarter, compared to the consensus estimate 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 company posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

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