Sysco Corporation $SYY Shares Bought by AXQ Capital LP

Key Points

• AXQ Capital LP increased its Sysco stake by 618.6% in the second quarter, acquiring 30,175 additional shares and bringing its holdings to 35,053 shares valued at approximately $2.93 million. Institutional investors and hedge funds collectively own 83.41% of SYY.
• Sysco reported quarterly EPS of $1.53, exceeding estimates by $0.02, 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.
• The company declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 2.7% yield. Shares opened at $81.00, down 0.9%, compared with a 52-week range of $68.19 to $91.85.

AXQ Capital LP grew its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 618.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,053 shares of the company's stock after purchasing an additional 30,175 shares during the quarter. AXQ Capital LP's holdings in Sysco were worth $2,930,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SYY. Intech Investment Management LLC boosted its stake in Sysco by 53.1% during the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company's stock valued at $1,674,000 after purchasing an additional 7,742 shares during the period. Schnieders Capital Management LLC. lifted its stake in shares of Sysco by 24.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company's stock worth $781,000 after acquiring an additional 2,000 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Sysco by 62.4% in the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company's stock valued at $2,685,000 after acquiring an additional 13,616 shares in the last quarter. Sei Investments Co. increased its stake in shares of Sysco by 14.2% during the second quarter. Sei Investments Co. now owns 344,504 shares of the company's stock valued at $26,092,000 after acquiring an additional 42,903 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company's stock valued at $17,166,000 after purchasing an additional 1,710 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Down 0.9%

Shares of Sysco stock opened at $81.00 on Friday. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The company has a market cap of $38.81 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.79 and a beta of 0.63. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The stock has a 50-day moving average price of $83.19 and a 200 day moving average price of $80.33.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $22.12 billion for the quarter, compared to analysts' expectations of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $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. As a group, analysts expect that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be paid 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 payout ratio is 60.11%.

Analyst Ratings Changes

A number of research analysts recently issued reports on SYY shares. Melius Research lowered Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. Wall Street Zen upgraded shares of Sysco from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Citigroup lifted their price target on shares of Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. UBS Group raised their price objective on Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 19th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.50.

Insider Buying and Selling at Sysco

In other news, EVP Ronald Phillips sold 506 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $84.09, for a total transaction of $42,549.54. Following the completion of the sale, the executive vice president owned 36,313 shares in the company, valued at approximately $3,053,560.17. This represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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. Insiders sold a total of 14,508 shares of company stock valued at $1,215,250 over the last ninety days. 0.56% of the stock is owned by insiders.

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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