Harbour Investments Inc. Buys 39,492 Shares of Sysco Corporation $SYY

Harbour Investments Inc. lifted its stake in Sysco Corporation (NYSE:SYY) by 655.6% during the fourth quarter, Holdings Channel reports. The fund owned 45,516 shares of the company’s stock after acquiring an additional 39,492 shares during the quarter. Harbour Investments Inc.’s holdings in Sysco were worth $3,354,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in SYY. Wellington Management Group LLP increased its position in Sysco by 3,977.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after buying an additional 4,595,819 shares during the period. Mondrian Investment Partners LTD bought a new position in Sysco in the 3rd quarter worth approximately $142,237,000. Marshall Wace LLP increased its position in Sysco by 102.6% in the 3rd quarter. Marshall Wace LLP now owns 2,359,471 shares of the company’s stock worth $194,279,000 after buying an additional 1,194,815 shares during the period. Scopus Asset Management L.P. bought a new position in Sysco in the 3rd quarter worth approximately $87,075,000. Finally, Vanguard Group Inc. increased its position in Sysco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock worth $4,591,281,000 after buying an additional 814,270 shares during the period. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the topic of several recent analyst reports. Piper Sandler dropped their price target on Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Wells Fargo & Company boosted their price target on Sysco from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Weiss Ratings lowered Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 30th. Truist Financial boosted their price objective on Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.15.

Sysco Trading Down 0.1%

NYSE:SYY opened at $75.23 on Thursday. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The business’s 50-day moving average price is $75.47 and its two-hundred day moving average price is $78.11. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The firm has a market capitalization of $35.97 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 3.08 and a beta of 0.66.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.56 billion. During the same period in the previous year, the company posted $0.96 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, equities analysts expect that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.55 per share. This is an increase from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, July 2nd. Sysco’s payout ratio is 59.83%.

Insider Activity at Sysco

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the transaction, the director directly owned 40,200 shares in the company, valued at $3,021,834. This trade represents a 49.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Sysco Company 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.