Patton Fund Management Inc. Takes Position in Sysco Corporation $SYY

Key Points

• Patton Fund Management Inc. has acquired a new position in Sysco Corporation, purchasing 3,105 shares valued at approximately $235,000.
• Various institutional investors increased their stakes in Sysco during the first quarter, with notable increases from Boston Partners and Canoe Financial LP, raising their holdings significantly.
• Research analysts have a consensus rating of "Moderate Buy" for Sysco, with an average price target of $85.69 per share based on recent assessments.

Patton Fund Management Inc. bought a new position 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 Securities and Exchange Commission (SEC). The institutional investor bought 3,105 shares of the company's stock, valued at approximately $235,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Boston Partners increased its holdings in shares of Sysco by 24.8% in the first quarter. Boston Partners now owns 15,199,828 shares of the company's stock worth $1,139,798,000 after purchasing an additional 3,015,714 shares during the last quarter. Canoe Financial LP grew its holdings in Sysco by 29,610.4% during the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after buying an additional 1,426,332 shares in the last quarter. Nuveen LLC bought a new stake in Sysco in the 1st quarter worth approximately $85,341,000. Amundi raised its holdings in shares of Sysco by 36.5% during the 1st quarter. Amundi now owns 3,725,508 shares of the company's stock worth $280,941,000 after acquiring an additional 995,498 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Sysco by 1,940.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company's stock valued at $76,290,000 after acquiring an additional 966,826 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Ronald L. Phillips sold 961 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the sale, the executive vice president owned 41,501 shares in the company, valued at approximately $3,361,581. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,338 shares of company stock valued at $7,439,331. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SYY shares. Truist Financial boosted their price target on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. UBS Group set a $90.00 target price on shares of Sysco in a report on Wednesday, July 30th. Bank of America increased their price target on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday, July 18th. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, Wells Fargo & Company set a $88.00 price objective on Sysco and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $85.69.

Sysco Trading Up 1.0%

Shares of NYSE SYY opened at $81.92 on Monday. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.24. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The company has a market cap of $39.71 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 2.54 and a beta of 0.80. The business's 50 day moving average price is $80.60 and its 200-day moving average price is $75.83.

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

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. Sysco's dividend payout ratio (DPR) is presently 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.

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