Sysco Corporation $SYY Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC boosted its stake in Sysco Corporation (NYSE:SYY) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 41,576 shares of the company’s stock after purchasing an additional 1,586 shares during the period. Fred Alger Management LLC’s holdings in Sysco were worth $3,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in Sysco by 21.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,121,188 shares of the company’s stock worth $234,214,000 after purchasing an additional 544,244 shares in the last quarter. Kestra Investment Management LLC raised its holdings in shares of Sysco by 6,013.3% in the 1st quarter. Kestra Investment Management LLC now owns 1,834 shares of the company’s stock valued at $138,000 after buying an additional 1,804 shares during the period. Jones Financial Companies Lllp lifted its stake in Sysco by 342.1% during the 1st quarter. Jones Financial Companies Lllp now owns 206,437 shares of the company’s stock worth $15,491,000 after acquiring an additional 159,745 shares in the last quarter. UniSuper Management Pty Ltd lifted its stake in Sysco by 2.8% during the 1st quarter. UniSuper Management Pty Ltd now owns 44,104 shares of the company’s stock worth $3,310,000 after acquiring an additional 1,200 shares in the last quarter. Finally, PharVision Advisers LLC purchased a new position in Sysco during the 1st quarter valued at about $275,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the topic of a number of recent research reports. Barclays boosted their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Bank of America increased their target price on shares of Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Truist Financial raised 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. Morgan Stanley upped their price objective on Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Finally, Wall Street Zen upgraded Sysco from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.69.

Sysco Trading Down 0.8%

NYSE SYY opened at $80.86 on Wednesday. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.17. The firm has a 50 day moving average of $79.48 and a two-hundred day moving average of $75.21. 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 has a market capitalization of $39.20 billion, a PE 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 for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to analyst estimates of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $1.39 EPS. 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 EPS for the current fiscal year.

Sysco Dividend Announcement

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

Insider Activity

In related news, EVP Ronald L. Phillips sold 37,606 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 56,304 shares of the company’s stock, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,377 shares of company stock valued at $7,361,490. Insiders own 0.54% of the company’s stock.

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.