Harbour Investments Inc. Increases Stake in Sysco Corporation $SYY

Harbour Investments Inc. lifted its stake in shares of Sysco Corporation (NYSE:SYY) by 655.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,516 shares of the company’s stock after acquiring an additional 39,492 shares during the period. Harbour Investments Inc.’s holdings in Sysco were worth $3,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. Jackson Grant Investment Advisers Inc. acquired a new stake in Sysco during the 3rd quarter worth approximately $25,000. Lloyd Advisory Services LLC. acquired a new stake in Sysco in the fourth quarter valued at approximately $25,000. Torren Management LLC purchased a new position in shares of Sysco during the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new position in shares of Sysco during the 4th quarter valued at approximately $28,000. Finally, Navalign LLC purchased a new position in shares of Sysco during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Down 0.1%

Shares of SYY opened at $75.23 on Thursday. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The stock has a market capitalization of $35.97 billion, a P/E ratio of 20.84, a P/E/G ratio of 3.08 and a beta of 0.66. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The business’s 50-day moving average price is $75.47 and its 200 day moving average price is $78.11.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Analysts expect that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. This is a positive change from Sysco’s previous quarterly dividend of $0.54. Sysco’s dividend payout ratio is presently 59.83%.

Insider Activity

In other news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the acquisition, the director directly owned 40,200 shares in the company, valued at $3,021,834. This represents a 49.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays reduced their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. UBS Group cut their target price on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Guggenheim lowered their price target on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Finally, Truist Financial lifted their target price on Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.15.

About Sysco

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.