Nicholas Company Inc. Invests $2.28 Million in Sysco Corporation $SYY

Key Points

• Nicholas Company Inc. opened a new position in Sysco during the fourth quarter, buying 30,915 shares worth about $2.28 million.
• Several other institutional investors also increased their Sysco stakes, and 83.41% of the stock is now owned by institutions.
• Sysco reported quarterly earnings of $0.94 per share, slightly below estimates, but revenue rose 4.7% year over year; the company also raised its quarterly dividend to $0.55 per share.

Nicholas Company Inc. purchased a new position in Sysco Corporation (NYSE:SYY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 30,915 shares of the company's stock, valued at approximately $2,278,000.

A number of other large investors have also recently made changes to their positions in SYY. Intech Investment Management LLC boosted its holdings in shares of Sysco by 53.1% in the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company's stock worth $1,674,000 after acquiring an additional 7,742 shares during the period. Schnieders Capital Management LLC. boosted its holdings in shares of Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company's stock worth $781,000 after acquiring an additional 2,000 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Sysco by 62.4% in the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company's stock worth $2,685,000 after acquiring an additional 13,616 shares during the period. Sei Investments Co. boosted its holdings in shares of Sysco by 14.2% in the second quarter. Sei Investments Co. now owns 344,504 shares of the company's stock worth $26,092,000 after acquiring an additional 42,903 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Sysco by 0.8% in the second quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company's stock worth $17,166,000 after acquiring an additional 1,710 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Trading Up 0.0%

NYSE SYY opened at $72.46 on Monday. The stock's 50-day simple moving average is $78.94 and its two-hundred day simple moving average is $78.26. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The company has a market capitalization of $34.65 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.96 and a beta of 0.66.

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

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be given 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 yield of 3.0%. Sysco's dividend payout ratio (DPR) is 59.83%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent analyst reports. Citigroup increased their price objective on Sysco from $78.00 to $80.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Morgan Stanley lowered their price objective on Sysco from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 20th. JPMorgan Chase & Co. increased their price objective on Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 28th. UBS Group lowered their price objective 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, Weiss Ratings downgraded Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, March 30th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $88.15.

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.

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