QRG Capital Management Inc. Increases Stake in Sysco Corporation $SYY

QRG Capital Management Inc. increased its holdings in shares of Sysco Corporation (NYSE:SYY) by 8.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,714 shares of the company’s stock after buying an additional 1,552 shares during the period. QRG Capital Management Inc.’s holdings in Sysco were worth $1,493,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SYY. Farther Finance Advisors LLC increased its stake in Sysco by 30.9% during the 1st quarter. Farther Finance Advisors LLC now owns 5,502 shares of the company’s stock worth $415,000 after buying an additional 1,298 shares during the period. Yousif Capital Management LLC increased its position in shares of Sysco by 0.3% in the 1st quarter. Yousif Capital Management LLC now owns 170,724 shares of the company’s stock valued at $12,811,000 after purchasing an additional 436 shares during the last quarter. Simplicity Wealth LLC increased its position in shares of Sysco by 50.1% in the 1st quarter. Simplicity Wealth LLC now owns 16,207 shares of the company’s stock valued at $1,216,000 after purchasing an additional 5,412 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in shares of Sysco by 25.2% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 4,927 shares of the company’s stock valued at $370,000 after purchasing an additional 993 shares during the last quarter. Finally, Curated Wealth Partners LLC increased its position in shares of Sysco by 3.7% in the 1st quarter. Curated Wealth Partners LLC now owns 16,659 shares of the company’s stock valued at $1,250,000 after purchasing an additional 599 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the transaction, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the sale, the executive vice president owned 30,235 shares of the company’s stock, valued at $2,449,035. This trade represents a 55.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,338 shares of company stock worth $7,439,331. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group set a $90.00 price objective on shares of Sysco in a research report on Wednesday, July 30th. Morgan Stanley increased their price objective on shares of Sysco from $72.00 to $77.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Bank of America increased their price objective on shares of Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Barclays upped their target price on shares of Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus price target of $85.85.

Sysco Stock Down 1.2%

Shares of NYSE:SYY opened at $79.83 on Wednesday. The stock has a market cap of $38.20 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.50 and a beta of 0.82. The firm has a fifty day moving average price of $80.90 and a 200 day moving average price of $76.25. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47.

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

Sysco Announces Dividend

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

Sysco Company 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.