Friedenthal Financial Acquires New Holdings in Sysco Corporation $SYY

Friedenthal Financial bought a new stake in Sysco Corporation (NYSE:SYY) during the first quarter, Holdings Channel.com reports. The institutional investor bought 13,801 shares of the company’s stock, valued at approximately $984,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Sysco during the fourth quarter valued at about $542,780,000. Wellington Management Group LLP lifted its holdings in shares of Sysco by 3,977.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after acquiring an additional 4,595,819 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Sysco by 45.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company’s stock worth $416,472,000 after purchasing an additional 1,754,306 shares during the period. Marshall Wace LLP boosted its position in shares of Sysco by 102.6% during the 3rd quarter. Marshall Wace LLP now owns 2,359,471 shares of the company’s stock worth $194,279,000 after purchasing an additional 1,194,815 shares during the period. Finally, Suvretta Capital Management LLC acquired a new stake in Sysco in the 4th quarter valued at approximately $79,864,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYY. Piper Sandler cut their target price on Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Barclays lowered their price target on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Citigroup boosted their price objective on Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Guggenheim decreased 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. Finally, Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.15.

Insider Activity at Sysco

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. This represents a 49.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

Sysco Stock Up 1.6%

Shares of NYSE:SYY opened at $80.54 on Thursday. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The firm’s 50 day moving average price is $75.70 and its 200 day moving average price is $78.43. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The stock has a market cap of $38.51 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 3.24 and a beta of 0.65.

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

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, July 2nd. This is an increase from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. Sysco’s payout ratio is presently 59.83%.

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.