DoubleLine ETF Adviser LP Purchases Shares of 25,889 Sysco Corporation $SYY

DoubleLine ETF Adviser LP acquired a new position in Sysco Corporation (NYSE:SYY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,889 shares of the company’s stock, valued at approximately $2,132,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Sysco by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after purchasing an additional 1,226,381 shares during the period. Capital Research Global Investors grew its position in Sysco by 0.3% during 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 buying an additional 46,040 shares during the period. Norges Bank acquired a new stake in Sysco during the second quarter valued at $493,686,000. Wellington Management Group LLP increased its holdings in Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after buying an additional 4,595,819 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Sysco by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,131,931 shares of the company’s stock worth $237,212,000 after acquiring an additional 27,693 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SYY. BMO Capital Markets reissued an “outperform” rating on shares of Sysco in a research note on Wednesday, January 28th. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Truist Financial raised their price objective on Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Guggenheim restated a “buy” rating on shares of Sysco in a research report on Thursday, March 5th. Finally, Argus raised Sysco to a “hold” rating in a research note on Thursday, January 29th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average target price of $90.31.

Sysco Trading Up 0.6%

Shares of Sysco stock opened at $85.43 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $91.85. The firm has a market capitalization of $40.92 billion, a PE ratio of 22.97, a P/E/G ratio of 2.66 and a beta of 0.58. The firm’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 data on Tuesday, January 27th. The company reported $0.99 EPS for the quarter, topping 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 company had revenue of $20.76 billion during the quarter, compared to analyst estimates of $20.80 billion. During the same period in the previous year, the business earned $0.93 EPS. Sysco’s quarterly revenue was up 3.0% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 2nd will be paid 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 is currently 58.06%.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 2,801 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total value of $232,454.99. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 5,601 shares of Sysco stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total transaction of $453,681.00. Following the sale, the executive vice president directly owned 35,965 shares in the company, valued at approximately $2,913,165. This trade represents a 13.47% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.56% of the company’s stock.

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.