Sysco Corporation $SYY Position Increased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Sysco stake by 10,045.8% to 63.6 million shares, representing 13.28% of the company and approximately $5.31 billion in value. Institutional investors collectively own 83.41% of Sysco.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $89.50. Sysco recently exceeded quarterly earnings and revenue expectations, reporting $1.53 EPS on $22.12 billion in revenue.
• Sysco shares opened at $81.68, while the company announced a quarterly dividend of $0.55 per share, equivalent to an annualized $2.20 payout and a 2.7% yield.

California State Teachers Retirement System boosted its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 10,045.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,555,151 shares of the company's stock after buying an additional 62,928,735 shares during the quarter. California State Teachers Retirement System owned 13.28% of Sysco worth $5,311,940,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SYY. Lloyd Advisory Services LLC. acquired a new stake in shares of Sysco during the fourth quarter worth $25,000. Motiv8 Investments LLC acquired a new position in shares of Sysco in the 4th quarter valued at $25,000. N.E.W. Advisory Services LLC purchased a new position in Sysco in the 2nd quarter worth about $29,000. Sunbelt Securities Inc. increased its stake in Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company's stock worth $26,000 after purchasing an additional 170 shares in the last quarter. Finally, Bard Associates Inc. acquired a new stake in Sysco during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analyst Weigh In

SYY has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 19th. Morgan Stanley upped their price target on shares of Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. Citigroup raised their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a research report on Sunday. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.50.

Insider Activity

In other news, EVP Ronald Phillips sold 506 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $84.09, for a total transaction of $42,549.54. Following the transaction, the executive vice president directly owned 36,313 shares in the company, valued at $3,053,560.17. The trade was a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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. Over the last three months, insiders have sold 14,508 shares of company stock worth $1,215,250. Company insiders own 0.56% of the company's stock.

Sysco Trading Up 2.3%

NYSE:SYY opened at $81.68 on Thursday. The stock has a market cap of $39.13 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 2.72 and a beta of 0.63. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week 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 stock's 50-day moving average is $82.96 and its two-hundred day moving average is $80.07.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.02. The business had revenue of $22.12 billion during 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 firm's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, equities research analysts forecast that Sysco Corporation will post 5.12 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be given a $0.55 dividend. The ex-dividend date is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. Sysco's dividend payout ratio is presently 60.11%.

Sysco Profile

Sysco Corporation NYSE: SYY is a global foodservice distributor that supplies restaurants, health care and educational institutions, hospitality businesses, government facilities, and other customers. Its product portfolio includes fresh and frozen foods, meat and seafood, dairy products, produce, pantry staples, beverages, and specialty items, along with nonfood products such as kitchen equipment, cleaning supplies, and disposable serving products.

In addition to distribution, Sysco provides services designed to support foodservice operators, including menu planning, culinary consulting, merchandising assistance, supply-chain solutions, and business-management resources.

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