Jupiter Topco LLC Invests $5.53 Million in Sysco Corporation $SYY

Key Points

• Jupiter Topco acquired 66,196 Sysco shares worth approximately $5.53 million in the second quarter. Institutional investors collectively own 83.41% of the company, with several major funds increasing or initiating positions.
• Sysco reported quarterly EPS of $1.53, exceeding estimates of $1.51, while revenue rose 4.7% year over year to $22.12 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $89.50.
• Sysco declared a quarterly dividend of $0.55 per share, equal to $2.20 annually and a 2.7% yield. An executive’s recent stock sale was conducted under a pre-arranged plan to cover tax obligations from vested equity awards.

Jupiter Topco LLC acquired a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 66,196 shares of the company's stock, valued at approximately $5,531,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Sysco during the 2nd quarter valued at $3,596,356,000. State Street Corp increased its holdings in shares of Sysco by 0.9% during the third quarter. State Street Corp now owns 26,669,576 shares of the company's stock valued at $2,195,973,000 after acquiring an additional 246,542 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Sysco by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock worth $934,391,000 after buying an additional 131,659 shares during the last quarter. Norges Bank acquired a new stake in Sysco during the 4th quarter worth about $542,780,000. Finally, Morgan Stanley lifted its holdings in shares of Sysco by 9.0% during the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company's stock worth $446,444,000 after purchasing an additional 500,881 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sysco

In related news, EVP Ronald L. Phillips sold 7,350 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the sale, the executive vice president directly owned 38,650 shares of the company's stock, valued at approximately $3,231,526.50. This trade represents a 15.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 14,508 shares of company stock worth $1,215,250. Corporate insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen raised Sysco from a "hold" rating to a "buy" rating in a research report on Saturday. Piper Sandler increased their price objective on shares of Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Melius Research lowered Sysco from a "hold" rating to a "sell" rating in a research note on Tuesday, July 7th. Weiss Ratings raised shares of Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 19th. Finally, Morgan Stanley lifted their price objective on Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 16th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.50.

Sysco Stock Performance

NYSE:SYY opened at $81.14 on Tuesday. The company's 50-day moving average is $83.11 and its two-hundred day moving average is $80.50. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The firm has a market capitalization of $38.87 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.80 and a beta of 0.64.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 EPS. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Analysts forecast that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco's dividend payout ratio is 60.11%.

Sysco Company Profile

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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