Louisiana State Employees Retirement System Takes $1.74 Million Position in Sysco Corporation $SYY

Key Points

• Louisiana State Employees Retirement System bought 24,400 shares of Sysco in the first quarter, a position valued at about $1.74 million.
• Sysco reported quarterly EPS of $0.94, missing estimates by a penny, while revenue came in at $20.52 billion, slightly below expectations but still up 4.7% year over year.
• The company raised its quarterly dividend to $0.55 per share from $0.54, bringing the annualized payout to $2.20 and a yield of about 2.6%.

Louisiana State Employees Retirement System purchased a new position in Sysco Corporation (NYSE:SYY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,400 shares of the company's stock, valued at approximately $1,740,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Montag A & Associates Inc. increased its position in shares of Sysco by 1.4% during the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company's stock worth $644,000 after acquiring an additional 123 shares during the period. United Community Bank raised its stake in shares of Sysco by 11.4% during the fourth quarter. United Community Bank now owns 1,224 shares of the company's stock valued at $90,000 after acquiring an additional 125 shares in the last quarter. First Citizens Bank & Trust Co. boosted 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 purchasing an additional 138 shares during the period. Octavia Wealth Advisors LLC grew its stake in Sysco by 4.6% in the fourth quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company's stock worth $237,000 after purchasing an additional 141 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its holdings in Sysco by 1.6% during the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company's stock worth $698,000 after purchasing an additional 143 shares during the period. Institutional investors own 83.41% of the company's stock.

Sysco Stock Up 0.1%

Shares of NYSE SYY opened at $83.67 on Thursday. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The stock's fifty day simple moving average is $76.50 and its two-hundred day simple moving average is $78.77. The stock has a market capitalization of $40.01 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 3.41 and a beta of 0.64. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58.

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

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be issued a $0.55 dividend. This is a boost from Sysco's previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, July 2nd. Sysco's dividend payout ratio is presently 59.83%.

Analysts Set New Price Targets

A number of brokerages have weighed in on SYY. Citigroup lifted their target price on Sysco from $78.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. UBS Group decreased their price objective on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Piper Sandler lowered their price objective on shares of Sysco from $83.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Finally, Barclays cut their target price on shares of Sysco from $92.00 to $86.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.15.

Insider Buying and Selling

In other news, Director John M. Hinshaw purchased 13,304 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the transaction, the director owned 40,200 shares in the company, valued at $3,021,834. This represents a 49.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company's stock.

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.

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.