OP Asset Management Ltd Purchases Shares of 49,466 Sysco Corporation $SYY

Key Points

• OP Asset Management Ltd opened a new position in Sysco, buying 49,466 shares worth about $3.53 million in the first quarter.
• Institutional ownership in Sysco remains heavy, with hedge funds and other institutions holding 83.41% of the stock. Several large investors, including Vanguard and State Street, also added to their stakes.
• Sysco’s quarterly dividend was raised to $0.55 per share from $0.54, and the stock currently offers an annualized yield of about 2.7%.

OP Asset Management Ltd acquired a new position in shares of Sysco Corporation (NYSE:SYY - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 49,466 shares of the company's stock, valued at approximately $3,528,000.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Sysco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company's stock worth $4,591,281,000 after acquiring an additional 814,270 shares in the last quarter. State Street Corp boosted its holdings in Sysco by 0.9% in the third quarter. State Street Corp now owns 26,669,576 shares of the company's stock valued at $2,195,973,000 after purchasing an additional 246,542 shares in the last quarter. Capital Research Global Investors increased its stake in Sysco by 0.3% in the third quarter. Capital Research Global Investors now owns 18,360,707 shares of the company's stock valued at $1,511,821,000 after purchasing an additional 46,040 shares during the last quarter. Geode Capital Management LLC raised its holdings in Sysco by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock worth $934,391,000 after purchasing an additional 131,659 shares in the last quarter. Finally, Norges Bank acquired a new stake in Sysco during the fourth quarter worth approximately $542,780,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SYY shares. Sanford C. Bernstein lowered their target price 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. Citigroup boosted their price target on shares of Sysco from $78.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Tuesday, April 28th. Guggenheim cut their target price 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, UBS Group reduced their target price on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.15.

Insider Transactions at Sysco

In other news, Director John M. Hinshaw acquired 13,304 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was bought at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the transaction, the director owned 40,200 shares in the company, valued at $3,021,834. This represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.56% of the company's stock.

Sysco Stock Up 2.5%

SYY opened at $82.83 on Friday. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The business has a 50 day moving average price of $76.01 and a two-hundred day moving average price of $78.52. 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 cap of $39.61 billion, a PE ratio of 22.95, a P/E/G ratio of 3.30 and a beta of 0.65.

Sysco (NYSE:SYY - Get Free Report) last announced 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). The company had revenue of $20.52 billion during the quarter, compared to analysts' expectations of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, research analysts anticipate that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The company 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 positive change from Sysco's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. Sysco's payout ratio is 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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