Brookstone Capital Management Purchases 1,669 Shares of Sysco Corporation $SYY

Brookstone Capital Management raised its position in shares of Sysco Corporation (NYSE:SYY) by 10.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,378 shares of the company’s stock after acquiring an additional 1,669 shares during the period. Brookstone Capital Management’s holdings in Sysco were worth $1,392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of SYY. Boston Partners increased its position in Sysco by 24.8% during the first quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after acquiring an additional 3,015,714 shares during the last quarter. Nuveen LLC bought a new position in Sysco during the first quarter valued at $85,341,000. Amundi increased 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 acquiring an additional 995,498 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Sysco by 1,940.1% in the first quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock worth $76,290,000 after purchasing an additional 966,826 shares during the last quarter. Finally, Burgundy Asset Management Ltd. grew its holdings in shares of Sysco by 38.8% in the first quarter. Burgundy Asset Management Ltd. now owns 2,015,994 shares of the company’s stock worth $151,280,000 after purchasing an additional 563,921 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Morgan Stanley set a $88.00 price target on shares of Sysco in a report on Tuesday. Sanford C. Bernstein assumed coverage on shares of Sysco in a report on Wednesday. They issued a “market perform” rating and a $83.00 price target on the stock. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Finally, Barclays upped their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Insider Activity at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $81.00, for a total transaction of $77,841.00. Following the completion of the sale, the executive vice president directly owned 41,501 shares of the company’s stock, valued at approximately $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 14,732 shares of company stock worth $1,193,245 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Sysco Stock Down 1.2%

Shares of Sysco stock opened at $77.30 on Friday. 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. The firm’s 50-day moving average is $80.53 and its two-hundred day moving average is $76.84. The stock has a market cap of $36.99 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 2.39 and a beta of 0.82.

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

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 3rd were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, October 3rd. Sysco’s dividend payout ratio is presently 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.