Cookson Peirce & Co. Inc. Grows Stake in Sysco Corporation $SYY

Cookson Peirce & Co. Inc. raised its stake in Sysco Corporation (NYSE:SYY) by 51.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,235 shares of the company’s stock after acquiring an additional 4,822 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Sysco were worth $1,078,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. grew its stake in shares of Sysco by 1.0% in the first quarter. Invesco Ltd. now owns 17,070,502 shares of the company’s stock worth $1,280,970,000 after acquiring an additional 162,961 shares during the last quarter. Boston Partners grew its stake in shares of Sysco by 24.8% in the first quarter. Boston Partners now owns 15,199,828 shares of the company’s stock worth $1,139,798,000 after acquiring an additional 3,015,714 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Sysco by 2.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company’s stock worth $551,810,000 after acquiring an additional 146,573 shares during the last quarter. Northern Trust Corp grew its stake in shares of Sysco by 2.6% in the first quarter. Northern Trust Corp now owns 5,828,930 shares of the company’s stock worth $437,403,000 after acquiring an additional 145,477 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Sysco by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company’s stock worth $381,747,000 after acquiring an additional 391,614 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Down 0.8%

SYY stock opened at $78.55 on Thursday. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. The business’s 50-day moving average is $80.63 and its two-hundred day moving average is $76.65. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The company has a market cap of $37.59 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 2.44 and a beta of 0.82.

Sysco (NYSE:SYY) last posted its earnings results 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. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter in the prior year, the company earned $1.39 earnings per share. Sysco’s 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, analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. Sysco’s dividend payout ratio (DPR) is 57.91%.

Insider Activity at Sysco

In other 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 value of $595,431.00. Following the transaction, the executive vice president owned 41,837 shares of the company’s stock, valued at $3,388,797. This trade represents a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 14,732 shares of company stock valued at $1,193,245 over the last 90 days. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SYY has been the topic of a number of recent research reports. Truist Financial increased their target price on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Guggenheim increased their price objective on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

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.