Westpac Banking Corp Invests $3.81 Million in Sysco Corporation $SYY

Westpac Banking Corp purchased a new stake in shares of Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 50,254 shares of the company’s stock, valued at approximately $3,806,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYY. Boston Partners grew its stake in Sysco by 24.8% in the 1st 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 during the period. Nuveen LLC purchased a new position in shares of Sysco in the 1st quarter worth about $85,341,000. Amundi grew its position in Sysco by 36.5% during the first quarter. Amundi now owns 3,725,508 shares of the company’s stock valued at $280,941,000 after buying an additional 995,498 shares during the period. Mackenzie Financial Corp increased its holdings in Sysco by 1,940.1% during the first quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock worth $76,290,000 after buying an additional 966,826 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its holdings in Sysco by 38.8% during the first quarter. Burgundy Asset Management Ltd. now owns 2,015,994 shares of the company’s stock worth $151,280,000 after buying an additional 563,921 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In related news, EVP Ronald L. Phillips sold 7,351 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total transaction of $595,431.00. Following the transaction, the executive vice president directly owned 41,837 shares of the company’s stock, valued at approximately $3,388,797. This trade represents a 14.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

Sysco Stock Performance

Shares of SYY opened at $74.66 on Friday. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 5.54. The company has a market cap of $35.75 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.19 and a beta of 0.79. The stock has a 50-day moving average price of $78.80 and a 200-day moving average price of $77.23.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The business had revenue of $21.15 billion for the quarter, compared to the consensus estimate of $21.03 billion. During the same period last year, the firm posted $1.09 earnings per share. Sysco’s quarterly revenue was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s dividend payout ratio is currently 57.91%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SYY. Wells Fargo & Company set a $88.00 target price on shares of Sysco and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Citigroup dropped their price objective on Sysco from $86.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. UBS Group set a $90.00 price objective on Sysco in a research note on Wednesday, July 30th. Barclays upped their price objective on shares of Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Sanford C. Bernstein started coverage on shares of Sysco in a research report on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

About Sysco

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.