WBI Investments LLC Boosts Holdings in Sysco Corporation $SYY

Key Points

• WBI Investments LLC has increased its holdings in Sysco Corporation (NYSE:SYY) by 41.7%, acquiring an additional 3,211 shares during the first quarter, bringing their total to 10,914 shares worth $819,000.
• Several hedge funds have also boosted their stakes in Sysco, with 83.41% of the stock owned by institutional investors.
• Investment analysts have a generally positive outlook on Sysco, with an average price target of $85.69 and ten analysts rating the stock as a "Buy".

WBI Investments LLC raised its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 41.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,914 shares of the company's stock after acquiring an additional 3,211 shares during the quarter. WBI Investments LLC's holdings in Sysco were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SYY. Invesco Ltd. boosted its stake in shares of Sysco by 1.0% during the 1st quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock worth $1,280,970,000 after purchasing an additional 162,961 shares during the last quarter. Boston Partners boosted its stake 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. Diamond Hill Capital Management Inc. boosted its stake in shares of Sysco by 2.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company's stock worth $551,810,000 after purchasing an additional 146,573 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Sysco by 2.6% during the 1st quarter. Northern Trust Corp now owns 5,828,930 shares of the company's stock worth $437,403,000 after purchasing an additional 145,477 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Sysco by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company's stock worth $381,747,000 after purchasing an additional 391,614 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SYY. Truist Financial raised their price target 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. UBS Group set a $90.00 price target on shares of Sysco in a research note on Wednesday, July 30th. Barclays raised their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Finally, Citigroup started coverage on shares of Sysco in a research report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $85.69.

Sysco Price Performance

SYY opened at $80.25 on Thursday. The company's 50 day simple moving average is $79.53 and its 200 day simple moving average is $75.25. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.17. The stock has a market capitalization of $38.90 billion, a PE ratio of 21.51, a P/E/G ratio of 2.50 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. The firm had revenue of $21.14 billion for the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. Sysco's revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, sell-side analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm 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. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's payout ratio is 57.91%.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares of the company's stock, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at approximately $2,449,035. This trade represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,377 shares of company stock worth $7,361,490. 0.54% of the stock is currently owned by corporate insiders.

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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