The Manufacturers Life Insurance Company Increases Position in Sysco Corporation $SYY

Key Points

• The Manufacturers Life Insurance Company increased its holdings in Sysco Corporation by 14.2%, acquiring an additional 492,865 shares during the first quarter, bringing its total ownership to 3,956,141 shares valued at approximately $296.9 million.
• Sysco recently reported a quarterly earnings of $1.48 per share, surpassing analysts' expectations and generated revenues of $21.14 billion, reflecting a 2.8% growth compared to the same quarter last year.
• The company announced a quarterly dividend of $0.54 per share set to be paid on October 24th, providing a dividend yield of 2.7% based on an annualized basis.

The Manufacturers Life Insurance Company boosted its position in Sysco Corporation (NYSE:SYY - Free Report) by 14.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,956,141 shares of the company's stock after buying an additional 492,865 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.82% of Sysco worth $296,869,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC boosted its position in Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 217 shares during the last quarter. Parvin Asset Management LLC bought a new stake in shares of Sysco during the 4th quarter worth $29,000. Golden State Wealth Management LLC grew its position in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after buying an additional 140 shares during the period. N.E.W. Advisory Services LLC bought a new stake in Sysco in the first quarter worth about $33,000. Finally, Capital A Wealth Management LLC purchased a new position in Sysco in the fourth quarter valued at about $34,000. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

Shares of Sysco stock traded up $0.92 during trading on Monday, hitting $80.51. 2,139,636 shares of the stock traded hands, compared to its average volume of 3,015,121. The stock has a market cap of $39.03 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 2.49 and a beta of 0.80. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.64. The firm's fifty day moving average is $78.69 and its 200-day moving average is $74.75.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.Sysco's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Research analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.7%. Sysco's dividend payout ratio is presently 57.91%.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ronald L. Phillips sold 6,286 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $81.00, for a total transaction of $509,166.00. Following the transaction, the executive vice president owned 34,404 shares in the company, valued at $2,786,724. This represents a 15.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,026 shares of company stock worth $6,766,059 over the last three months. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SYY shares. Barclays increased their price objective on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Wall Street Zen raised Sysco from a "hold" rating to a "buy" rating in a report on Saturday. JPMorgan Chase & Co. boosted their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Bank of America increased their target price on shares of Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Citigroup assumed coverage on Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.69.

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.