Sunriver Management LLC Invests $45.81 Million in Sysco Corporation $SYY

Sunriver Management LLC bought a new stake in Sysco Corporation (NYSE:SYY) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 556,343 shares of the company’s stock, valued at approximately $45,809,000. Sysco accounts for about 5.0% of Sunriver Management LLC’s investment portfolio, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Certuity LLC acquired a new position in Sysco in the 3rd quarter worth $310,000. Tocqueville Asset Management L.P. increased its holdings in Sysco by 1.2% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 154,867 shares of the company’s stock worth $12,752,000 after purchasing an additional 1,764 shares during the last quarter. Johnson Financial Group Inc. raised its position in shares of Sysco by 70.7% in the 3rd quarter. Johnson Financial Group Inc. now owns 565 shares of the company’s stock valued at $47,000 after purchasing an additional 234 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Sysco by 3.3% during the 3rd quarter. Mackenzie Financial Corp now owns 1,430,611 shares of the company’s stock valued at $117,797,000 after buying an additional 46,032 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of Sysco by 0.3% during the third quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock worth $1,511,821,000 after buying an additional 46,040 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY traded up $0.43 during midday trading on Friday, hitting $85.34. The company’s stock had a trading volume of 90,822 shares, compared to its average volume of 3,964,763. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $91.85. The firm’s fifty day moving average price is $83.19 and its 200-day moving average price is $79.48. The firm has a market cap of $40.87 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.63 and a beta of 0.58.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The firm had revenue of $20.76 billion for the quarter, compared to analysts’ expectations of $20.80 billion. During the same quarter last year, the company posted $0.93 earnings per share. Sysco’s revenue was up 3.0% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, sell-side analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 2nd will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, April 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 2.5%. Sysco’s payout ratio is currently 58.06%.

Insiders Place Their Bets

In other news, EVP Ronald L. Phillips sold 5,601 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the transaction, the executive vice president owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. The trade was a 13.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sheila Talton sold 2,801 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the transaction, the director owned 12,868 shares of the company’s stock, valued at $1,067,915.32. This represents a 17.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SYY shares. Citigroup upped their price target on shares of Sysco from $81.00 to $88.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Sanford C. Bernstein set a $90.00 target price on shares of Sysco and gave the stock a “market perform” rating in a research report on Wednesday, January 28th. JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Truist Financial lifted their price target on Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Barclays upped their price objective on Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.31.

Sysco Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.