Chesapeake Capital Corp IL Purchases Shares of 10,717 Sysco Corporation $SYY

Chesapeake Capital Corp IL purchased a new stake in Sysco Corporation (NYSE:SYY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,717 shares of the company’s stock, valued at approximately $882,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Sysco by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock worth $4,748,230,000 after acquiring an additional 1,226,381 shares during the last quarter. Capital Research Global Investors grew its position in shares of Sysco by 0.3% in the third quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock valued at $1,511,821,000 after purchasing an additional 46,040 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Sysco by 1.5% in the second quarter. Geode Capital Management LLC now owns 12,551,872 shares of the company’s stock worth $946,694,000 after purchasing an additional 183,179 shares during the period. Norges Bank bought a new position in shares of Sysco in the second quarter worth about $493,686,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Sysco by 0.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,131,931 shares of the company’s stock worth $237,212,000 after purchasing an additional 27,693 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Trading Up 0.6%

Shares of SYY opened at $85.43 on Friday. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $91.85. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 5.45. The firm has a market capitalization of $40.92 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 2.64 and a beta of 0.58. The stock’s 50-day moving average price is $83.45 and its 200 day moving average price is $79.52.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The firm had revenue of $20.76 billion during the quarter, compared to analysts’ expectations of $20.80 billion. During the same quarter in the prior year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. As a group, research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 2nd will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, April 2nd. Sysco’s dividend payout ratio (DPR) is 58.06%.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Guggenheim reiterated a “buy” rating on shares of Sysco in a report on Thursday, March 5th. JPMorgan Chase & Co. increased their price objective on Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Morgan Stanley lowered their price objective on shares of Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Finally, Argus raised shares of Sysco to a “hold” rating in a research report on Thursday, January 29th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.31.

Insiders Place Their Bets

In other news, EVP Ronald L. Phillips sold 5,601 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the transaction, the executive vice president directly owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. This trade represents a 13.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sheila Talton sold 2,801 shares of Sysco stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $82.99, for a total transaction of $232,454.99. Following the sale, the director owned 12,868 shares in the company, valued at approximately $1,067,915.32. This trade represents a 17.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is owned by insiders.

Sysco Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.