Tidal Investments LLC Grows Stock Position in Sysco Corporation $SYY

Key Points

• Tidal Investments increased its Sysco stake by 27.6% in the second quarter, bringing its holdings to 138,807 shares valued at approximately $11.6 million. Institutional investors collectively own 83.41% of Sysco’s stock.
• Sysco exceeded quarterly expectations, reporting $1.53 in EPS and $22.12 billion in revenue, with revenue up 4.7% year over year. The company also declared a quarterly dividend of $0.55, representing a 2.6% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $89.50 compared with the stock’s recent price of $83.28; targets range from $86 to $95.

Tidal Investments LLC increased its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 27.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,807 shares of the company's stock after purchasing an additional 29,999 shares during the quarter. Tidal Investments LLC's holdings in Sysco were worth $11,601,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. California State Teachers Retirement System grew its position in shares of Sysco by 10,045.8% during the second quarter. California State Teachers Retirement System now owns 63,555,151 shares of the company's stock worth $5,311,940,000 after buying an additional 62,928,735 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Sysco in the 2nd quarter valued at approximately $3,596,356,000. State Street Corp increased its position in shares of Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company's stock valued at $2,195,973,000 after purchasing an additional 246,542 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Sysco by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock valued at $934,391,000 after purchasing an additional 131,659 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Sysco in the 4th quarter valued at $542,780,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Up 1.2%

SYY opened at $83.28 on Friday. The business's 50-day simple moving average is $82.87 and its 200-day simple moving average is $80.04. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The stock has a market capitalization of $39.90 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 2.83 and a beta of 0.63.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion during 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 was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $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. Analysts anticipate that Sysco Corporation will post 5.08 EPS for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Investors 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 annualized dividend and a yield of 2.6%. Sysco's dividend payout ratio is 60.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SYY shares. Morgan Stanley boosted their target price on shares of Sysco from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Citigroup raised their price target on Sysco from $82.00 to $86.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a report on Sunday, September 6th. UBS Group raised their target price on Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, Melius Research cut Sysco from a "hold" rating to a "sell" rating in a research note on Tuesday, July 7th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.50.

Insiders Place Their Bets

In other Sysco news, EVP Ronald Phillips sold 506 shares of the firm'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 of the company's stock, valued at approximately $3,053,560.17. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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. In the last ninety days, insiders have sold 14,508 shares of company stock worth $1,215,250. 0.56% of the stock is owned by corporate insiders.

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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