Martingale Asset Management L P Raises Stake in Sysco Corporation $SYY

Key Points

• Martingale Asset Management L P increased its stake in Sysco Corporation by 18.6%, owning 122,772 shares worth approximately $9.2 million as of the latest SEC filing.
• Sysco Corporation reported a quarterly earnings per share (EPS) of $1.48, exceeding analyst estimates of $1.39, with revenue growth of 2.8% year-over-year.
• A quarterly dividend of $0.54 was declared, yielding 2.7%, with the ex-dividend date set for October 3rd.

Martingale Asset Management L P raised its stake in Sysco Corporation (NYSE:SYY - Free Report) by 18.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,772 shares of the company's stock after acquiring an additional 19,244 shares during the quarter. Martingale Asset Management L P's holdings in Sysco were worth $9,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Boyd Watterson Asset Management LLC OH lifted its holdings in shares of Sysco by 106.4% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock worth $236,000 after acquiring an additional 1,622 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Sysco by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock valued at $16,772,000 after buying an additional 4,932 shares during the last quarter. Fiduciary Trust Co raised its holdings in Sysco by 0.3% in the 4th quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock valued at $5,084,000 after buying an additional 196 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in Sysco in the 1st quarter valued at approximately $202,000. Finally, Golden State Wealth Management LLC raised its holdings in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after buying an additional 140 shares during the last quarter. Institutional investors own 83.41% of the company's stock.

Sysco Trading Down 1.2%

Shares of NYSE:SYY traded down $0.9530 during mid-day trading 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 fifty day moving average price of $78.14 and a 200 day moving average price of $74.43. The company has a market capitalization of $38.46 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. Sysco Corporation has a one year low of $67.12 and a one year high of $82.64.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data 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 company had revenue of $21.14 billion during 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%. Sysco's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, research analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders 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 is Friday, October 3rd. Sysco's payout ratio is 57.91%.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of research reports. Morgan Stanley raised their price objective on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. BMO Capital Markets dropped their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. UBS Group set a $90.00 price objective on shares of Sysco in a report on Wednesday, July 30th. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 6,286 shares of Sysco stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total transaction of $509,166.00. Following the transaction, the executive vice president directly owned 34,404 shares of the company's stock, valued at $2,786,724. The trade was a 15.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction 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. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,026 shares of company stock valued at $6,766,059 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

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.