Auto Owners Insurance Co Has $60.27 Million Position in Sysco Corporation $SYY

Key Points

• Auto Owners Insurance Co dramatically increased its Sysco stake by 7,269% in the fourth quarter, ending with 817,959 shares worth about $60.3 million.
• Institutional ownership in Sysco remains high at 83.41%, and several other funds also modestly boosted their positions during the quarter.
• Analysts remain generally constructive on Sysco despite some price-target cuts, with a Moderate Buy consensus and an average target price of $88.15; the company also recently raised its quarterly dividend to $0.55 per share.

Auto Owners Insurance Co increased its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 7,269.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 817,959 shares of the company's stock after acquiring an additional 806,859 shares during the quarter. Auto Owners Insurance Co owned approximately 0.17% of Sysco worth $60,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Montag A & Associates Inc. lifted its position in Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company's stock valued at $644,000 after acquiring an additional 123 shares in the last quarter. United Community Bank boosted its stake in shares of Sysco by 11.4% in the 4th quarter. United Community Bank now owns 1,224 shares of the company's stock worth $90,000 after buying an additional 125 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Sysco by 1.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company's stock valued at $827,000 after acquiring an additional 138 shares in the last quarter. Octavia Wealth Advisors LLC grew its holdings in shares of Sysco by 4.6% in the fourth quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company's stock valued at $237,000 after acquiring an additional 141 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its position in shares of Sysco by 1.6% during the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company's stock valued at $698,000 after acquiring an additional 143 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SYY shares. Sanford C. Bernstein decreased their price objective on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a report on Wednesday, April 29th. Barclays lowered their target price on Sysco from $92.00 to $86.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Guggenheim dropped their price target on Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, April 2nd. UBS Group cut their price target on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered Sysco from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a report on Tuesday, April 28th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $88.15.

Insider Buying and Selling at Sysco

In other news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction that occurred on Tuesday, May 26th. The stock was 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 of the company's stock, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by company insiders.

Sysco Price Performance

Shares of SYY opened at $78.64 on Friday. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The firm's 50-day simple moving average is $75.37 and its two-hundred day simple moving average is $78.30. The stock has a market cap of $37.60 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 3.21 and a beta of 0.65. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The company had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Analysts anticipate that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco's previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.8%. Sysco's dividend payout ratio is currently 59.83%.

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.

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