Pinebridge Investments LLC Buys Shares of 201,952 Sysco Corporation $SYY

Key Points

• Pinebridge Investments LLC opened a new position in Sysco, buying 201,952 shares worth about $14.9 million in the fourth quarter.
• Several other institutional investors also adjusted their Sysco holdings, and institutions now own 83.41% of the company’s stock.
• Sysco recently raised its quarterly dividend to $0.55 per share from $0.54, putting the annualized dividend at $2.20 with a yield of about 2.9%.

Pinebridge Investments LLC bought a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 201,952 shares of the company's stock, valued at approximately $14,882,000.

A number of other large investors have also recently modified their holdings of the business. PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in shares of Sysco during the 4th quarter valued at about $9,385,000. SlateStone Wealth LLC boosted its position in shares of Sysco by 4.5% during the 4th quarter. SlateStone Wealth LLC now owns 10,835 shares of the company's stock valued at $798,000 after acquiring an additional 465 shares during the last quarter. Vise Technologies Inc. boosted its position in shares of Sysco by 41.1% during the 4th quarter. Vise Technologies Inc. now owns 16,585 shares of the company's stock valued at $1,222,000 after acquiring an additional 4,828 shares during the last quarter. Continuum Advisory LLC bought a new stake in shares of Sysco during the 4th quarter valued at about $203,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Sysco by 0.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 105,414 shares of the company's stock valued at $7,768,000 after acquiring an additional 659 shares during the last quarter. Institutional investors own 83.41% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SYY. Citigroup lifted their price target on Sysco from $78.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Piper Sandler dropped their price target on Sysco from $83.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Company lifted their price target on Sysco from $92.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft downgraded Sysco from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a research report on Tuesday, April 28th. Finally, Weiss Ratings downgraded Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, March 30th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.15.

Insiders Place Their Bets

In other news, Director John M. Hinshaw bought 13,304 shares of the company's stock in a transaction that occurred 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 directly owned 40,200 shares of the company's stock, valued at $3,021,834. This represents a 49.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by insiders.

Sysco Stock Performance

NYSE:SYY opened at $76.36 on Friday. The business has a 50 day moving average of $74.45 and a 200 day moving average of $78.09. The company has a market capitalization of $36.51 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 3.12 and a beta of 0.65. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80.

Sysco (NYSE:SYY - Get Free Report) last released its 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). The firm 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 business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently announced 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 represents a $2.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco's previous quarterly dividend of $0.54. Sysco's dividend payout ratio is presently 59.83%.

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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