Sysco Corporation $SYY Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Sysco Corporation (NYSE:SYY) by 1.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,728,692 shares of the company’s stock after purchasing an additional 131,659 shares during the quarter. Geode Capital Management LLC’s holdings in Sysco were worth $934,391,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SYY. Wellington Management Group LLP grew its stake in Sysco by 3,977.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after acquiring an additional 4,595,819 shares during the period. Mondrian Investment Partners LTD purchased a new position in Sysco in the 3rd quarter valued at about $142,237,000. Marshall Wace LLP lifted its stake in Sysco by 102.6% in the 3rd quarter. Marshall Wace LLP now owns 2,359,471 shares of the company’s stock valued at $194,279,000 after buying an additional 1,194,815 shares in the last quarter. Scopus Asset Management L.P. purchased a new position in Sysco in the 3rd quarter valued at about $87,075,000. Finally, Vanguard Group Inc. lifted its stake in Sysco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after buying an additional 814,270 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Up 0.1%

Shares of NYSE SYY opened at $75.98 on Friday. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The stock has a market cap of $36.33 billion, a PE ratio of 21.05, a P/E/G ratio of 3.10 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 company has a 50-day moving average of $75.17 and a 200 day moving average of $78.10.

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

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.9%. This is an increase from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. Sysco’s dividend payout ratio is presently 59.83%.

Insiders Place Their Bets

In related news, Director John M. Hinshaw acquired 13,304 shares of the stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This represents a 49.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the topic of a number of research reports. Wells Fargo & Company raised their price target on shares of Sysco from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Barclays decreased their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings downgraded Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 30th. Sanford C. Bernstein reduced their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Finally, Piper Sandler reduced their price objective on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $88.15.

Sysco Company 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.