Sysco Corporation $SYY Shares Bought by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR significantly increased its stake in Sysco Corporation by 16,147.7%, now holding 21,447 shares valued at approximately $1.6 million.
• Analysts have upgraded Sysco's rating, with Wall Street Zen moving it to "buy" and several firms raising their price targets, indicating a generally positive market sentiment.
• Sysco recently announced a quarterly dividend of $0.54 per share, with an annualized yield of 2.7%, reflecting a healthy dividend payout strategy.

Generali Asset Management SPA SGR increased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 16,147.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,447 shares of the company's stock after buying an additional 21,315 shares during the quarter. Generali Asset Management SPA SGR's holdings in Sysco were worth $1,624,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SYY. Boston Partners boosted its position in Sysco by 24.8% in the 1st 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 in the last quarter. Canoe Financial LP boosted its position in Sysco by 29,610.4% in the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock worth $107,393,000 after purchasing an additional 1,426,332 shares in the last quarter. Nuveen LLC purchased a new stake in Sysco in the 1st quarter worth approximately $85,341,000. Amundi boosted its position in Sysco by 36.5% in the 1st quarter. Amundi now owns 3,725,508 shares of the company's stock worth $280,941,000 after purchasing an additional 995,498 shares in the last quarter. Finally, Mackenzie Financial Corp lifted 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 buying an additional 966,826 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Sysco from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Truist Financial raised their price objective on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Citigroup raised their target price on Sysco from $84.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday. Bank of America raised their target price on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, UBS Group set a $90.00 target price on Sysco in a research note on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $86.46.

Insider Activity

In other news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction dated 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 owned 56,304 shares in the company, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the sale, the executive vice president owned 30,235 shares of the company's stock, valued at approximately $2,449,035. The trade was a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,338 shares of company stock valued at $7,439,331 in the last quarter. Company insiders own 0.56% of the company's stock.

Sysco Stock Up 1.4%

Shares of NYSE:SYY opened at $79.92 on Friday. The business has a 50-day moving average price of $80.73 and a 200 day moving average price of $76.54. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The company has a market capitalization of $38.24 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 2.43 and a beta of 0.82. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 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 period last year, the business posted $1.39 EPS. Sysco's revenue for the quarter was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is presently 57.91%.

Sysco Profile

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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