Intech Investment Management LLC Boosts Stake in Sysco Corporation $SYY

Key Points

• Intech Investment Management LLC sharply increased its Sysco stake in the fourth quarter, boosting holdings by 698.3% to 435,774 shares worth about $32.1 million.
• Sysco recently posted quarterly earnings of $0.94 per share, slightly below estimates, while revenue of $20.52 billion also came in just under expectations but still rose 4.7% year over year.
• The company raised its quarterly dividend to $0.55 per share from $0.54, and one director also bought more than 13,000 shares in a recent insider purchase.

Intech Investment Management LLC grew its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 698.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 435,774 shares of the company's stock after acquiring an additional 381,186 shares during the period. Intech Investment Management LLC owned about 0.09% of Sysco worth $32,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Sysco in the 3rd quarter worth approximately $25,000. Lloyd Advisory Services LLC. bought a new stake in shares of Sysco in the 4th quarter worth approximately $25,000. Peterson Wealth Services boosted its position in shares of Sysco by 875.7% in the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company's stock worth $30,000 after purchasing an additional 324 shares in the last quarter. Torren Management LLC bought a new stake in shares of Sysco in the 4th quarter worth approximately $27,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Sysco in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SYY shares. 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. Weiss Ratings cut Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, March 30th. Argus raised Sysco to a "hold" rating in a research report on Thursday, January 29th. UBS Group 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. Finally, 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. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Sysco has an average rating of "Moderate Buy" and an average target price of $88.15.

Sysco Stock Performance

SYY stock opened at $75.88 on Friday. The stock has a market capitalization of $36.28 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. 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 stock's 50 day simple moving average is $75.30 and its 200 day simple moving average is $78.12.

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

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a $0.55 dividend. This is a boost from Sysco's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 annualized dividend and a yield of 2.9%. Sysco's payout ratio is currently 59.83%.

Insider Transactions at Sysco

In other Sysco news, Director John M. Hinshaw acquired 13,304 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares of the company's stock, valued at $3,021,834. The trade was a 49.46% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.