Versor Investments LP Grows Position in Sysco Corporation $SYY

Key Points

• Versor Investments LP significantly increased its position in Sysco Corporation by 339.6% during the first quarter, holding 14,066 shares valued at approximately $1,056,000.
• Several large investors, including Boston Partners and Canoe Financial LP, have also increased their stakes in Sysco, highlighting a trend of growing institutional interest in the company.
• Sysco's recent quarterly earnings report exceeded expectations, with $1.48 EPS and revenue of $21.14 billion, showing a year-over-year increase of 2.8%.

Versor Investments LP lifted its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 339.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,066 shares of the company's stock after acquiring an additional 10,866 shares during the quarter. Versor Investments LP's holdings in Sysco were worth $1,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in 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. Capital Research Global Investors boosted its position in Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after purchasing an additional 1,928,002 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. Finally, Burgundy Asset Management Ltd. increased its holdings in Sysco by 251.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock valued at $111,026,000 after buying an additional 1,039,088 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SYY shares. UBS Group set a $90.00 price objective on shares of Sysco in a report on Wednesday, July 30th. Guggenheim lifted their price objective on shares of Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. BMO Capital Markets cut their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Truist Financial boosted their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $85.69.

Insider Activity

In related news, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated 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 in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald L. Phillips sold 6,286 shares of Sysco stock in a transaction dated Wednesday, August 13th. The stock was 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 of the company's stock, valued at approximately $2,786,724. The trade was a 15.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,026 shares of company stock valued at $6,766,059 in the last quarter. Company insiders own 0.54% of the company's stock.

Sysco Stock Performance

Shares of SYY stock traded down $1.2230 during mid-day trading on Thursday, hitting $79.7570. The stock had a trading volume of 2,048,063 shares, compared to its average volume of 3,324,720. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.64. The firm has a market cap of $38.66 billion, a PE ratio of 21.38, a PEG ratio of 2.46 and a beta of 0.83. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The company's 50-day simple moving average is $77.93 and its 200-day simple moving average is $74.27.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. During the same quarter last year, the business earned $1.39 EPS. The business's revenue 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 anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors 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 annualized dividend and a dividend yield of 2.7%. Sysco's dividend payout ratio (DPR) is 57.91%.

Sysco Company 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.