Goldman Sachs Group Inc. Boosts Stock Position in Sysco Corporation $SYY

Goldman Sachs Group Inc. grew its stake in Sysco Corporation (NYSE:SYY) by 21.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,121,188 shares of the company’s stock after purchasing an additional 544,244 shares during the period. Goldman Sachs Group Inc.’s holdings in Sysco were worth $234,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in SYY. Boston Partners grew its position in shares of Sysco by 24.8% in the first quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after purchasing an additional 3,015,714 shares in the last quarter. Canoe Financial LP grew its position in shares of Sysco by 29,610.4% in the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company’s stock valued at $107,393,000 after purchasing an additional 1,426,332 shares in the last quarter. Nuveen LLC acquired a new position in Sysco in the first quarter valued at approximately $85,341,000. Burgundy Asset Management Ltd. lifted its holdings in Sysco by 251.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company’s stock valued at $111,026,000 after acquiring an additional 1,039,088 shares during the last quarter. Finally, Amundi lifted its holdings in Sysco by 36.5% in the first quarter. Amundi now owns 3,725,508 shares of the company’s stock valued at $280,941,000 after acquiring an additional 995,498 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares of the company’s stock, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value 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. The trade was a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,377 shares of company stock worth $7,361,490 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Truist Financial upped their price objective on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the company an “overweight” rating in a report on Tuesday, July 29th. Guggenheim upped their price objective on Sysco from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Wall Street Zen upgraded Sysco from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $85.69.

Sysco Stock Down 0.8%

NYSE:SYY opened at $80.86 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The stock’s fifty day moving average is $79.48 and its two-hundred day moving average is $75.21. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.17. The stock has a market capitalization of $39.20 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 2.53 and a beta of 0.80.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to analysts’ expectations of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Research analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s dividend payout ratio is 57.91%.

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.