Geode Capital Management LLC Grows Stake in Sysco Corporation $SYY

Geode Capital Management LLC boosted its holdings in Sysco Corporation (NYSE:SYY) by 1.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,551,872 shares of the company’s stock after purchasing an additional 183,179 shares during the quarter. Geode Capital Management LLC owned about 2.59% of Sysco worth $946,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Boyd Watterson Asset Management LLC OH lifted its holdings in shares of Sysco by 106.4% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock valued at $236,000 after purchasing an additional 1,622 shares during the last quarter. Gradient Investments LLC increased its position in Sysco by 9.2% during the second quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock worth $14,328,000 after buying an additional 15,906 shares during the period. Brighton Jones LLC lifted its stake in Sysco by 4.3% in the second quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock valued at $6,842,000 after buying an additional 3,760 shares during the last quarter. Beacon Financial Group lifted its stake in Sysco by 55.5% in the second quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock valued at $754,000 after buying an additional 3,554 shares during the last quarter. Finally, Salvus Wealth Management LLC acquired a new stake in shares of Sysco in the second quarter valued at approximately $329,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $75.03 on Friday. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. The company has a 50-day moving average price of $78.96 and a 200 day moving average price of $77.15. The company has a market cap of $35.93 billion, a P/E ratio of 20.12, a PEG ratio of 2.19 and a beta of 0.79. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 5.54.

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

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, January 2nd will be given a $0.54 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 2.9%. Sysco’s dividend payout ratio is presently 57.91%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Truist Financial upped their price target on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Barclays raised their price target on Sysco from $82.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Sanford C. Bernstein began coverage on Sysco in a research note on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $87.00.

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the sale, the executive vice president directly owned 41,501 shares in the company, valued at approximately $3,361,581. The trade was a 2.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.

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.