Waycross Partners LLC Raises Position in Sysco Corporation $SYY

Key Points

• Waycross Partners LLC increased its position in Sysco Corporation by 3.3%, owning 303,141 shares valued at approximately $22.96 million.
• Sysco recently reported $1.48 earnings per share, exceeding expectations, with quarterly revenues of $21.14 billion, marking a 2.8% year-over-year increase.
• The company declared a quarterly dividend of $0.54, resulting in a yield of 2.6% and a dividend payout ratio of 57.91%.

Waycross Partners LLC increased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 303,141 shares of the company's stock after purchasing an additional 9,789 shares during the quarter. Sysco accounts for 2.2% of Waycross Partners LLC's investment portfolio, making the stock its 21st biggest position. Waycross Partners LLC owned 0.06% of Sysco worth $22,960,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its holdings in Sysco by 43.1% in the 4th quarter. Toronto Dominion Bank now owns 265,924 shares of the company's stock worth $20,332,000 after acquiring an additional 80,075 shares during the last quarter. Mackenzie Financial Corp boosted its position in Sysco by 14.3% during the 4th quarter. Mackenzie Financial Corp now owns 49,834 shares of the company's stock valued at $3,810,000 after acquiring an additional 6,236 shares in the last quarter. Ameriflex Group Inc. bought a new stake in Sysco during the fourth quarter worth about $35,000. Capital A Wealth Management LLC bought a new stake in Sysco during the fourth quarter worth about $34,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Sysco during the fourth quarter worth about $30,993,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Trading Up 1.0%

Shares of SYY opened at $82.19 on Wednesday. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.24. The company has a market cap of $39.84 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The company's fifty day simple moving average is $80.38 and its 200-day simple moving average is $75.67.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The business'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 posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared 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. This represents a $2.16 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is currently 57.91%.

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 transaction, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. This represents 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 worth $7,439,331 in the last ninety days. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Guggenheim lifted their target price on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Barclays boosted their target price on shares of Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Bank of America boosted their target price on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Morgan Stanley upped their price target on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

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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