Sysco Corporation $SYY Shares Purchased by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its holdings in Sysco Corporation by 195.5% in Q2, owning 67,132 shares valued at approximately $5.08 million.
• Several institutional investors, including Boston Partners and Canoe Financial LP, also significantly increased their positions in Sysco, indicating strong institutional confidence in the company.
• Sysco announced a quarterly dividend of $0.54 per share, with an annualized yield of 2.8%, and is projected to post $4.58 EPS for the current fiscal year.

Callan Family Office LLC increased its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 195.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,132 shares of the company's stock after purchasing an additional 44,416 shares during the quarter. Callan Family Office LLC's holdings in Sysco were worth $5,085,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYY. Boston Partners increased its position in shares of Sysco by 24.8% during 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 during the last quarter. Canoe Financial LP increased its position in shares of Sysco by 29,610.4% during 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 during the last quarter. Nuveen LLC acquired a new position in Sysco in the 1st quarter valued at about $85,341,000. Amundi grew its position in Sysco by 36.5% in the 1st quarter. Amundi now owns 3,725,508 shares of the company's stock valued at $280,941,000 after acquiring an additional 995,498 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Sysco by 1,940.1% in 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 in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sysco 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,338 shares of company stock valued at $7,439,331. 0.54% of the stock is owned by company insiders.

Sysco Stock Performance

Shares of SYY opened at $78.44 on Friday. The stock has a 50 day moving average price of $80.81 and a 200 day moving average price of $76.37. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The company has a market capitalization of $37.53 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same period in the prior year, the company posted $1.39 earnings per share. The firm's quarterly 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. Research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.8%. Sysco's payout ratio is currently 57.91%.

Analysts Set New Price Targets

Several equities analysts have weighed in on SYY shares. Guggenheim lifted their target price on Sysco from $87.00 to $89.00 and gave the company a "buy" rating in a research report on Monday. Bank of America lifted their target price on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Truist Financial lifted their target price on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, UBS Group set a $90.00 target price on Sysco in a research report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and an average target price of $85.85.

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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