Principal Financial Group Inc. Purchases 14,239 Shares of Sysco Corporation $SYY

Key Points

• Principal Financial Group increased its Sysco stake by 2.7% in the fourth quarter, buying 14,239 additional shares and lifting its position to 548,300 shares valued at about $40.4 million.
• Sysco reported fiscal Q3 results that slightly missed earnings and revenue estimates, with EPS of $0.94 versus $0.95 expected and revenue of $20.52 billion versus $20.56 billion expected, though revenue still rose 4.7% year over year.
• The company raised its quarterly dividend to $0.55 per share from $0.54, implying an annualized yield of about 3.0%, while analysts currently see the stock as a Moderate Buy with a consensus price target of $88.15.

Principal Financial Group Inc. boosted its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 548,300 shares of the company's stock after acquiring an additional 14,239 shares during the period. Principal Financial Group Inc. owned 0.11% of Sysco worth $40,404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. purchased a new stake in Sysco during the 3rd quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in Sysco during the 4th quarter valued at approximately $27,000. Peterson Wealth Services grew its holdings in Sysco by 875.7% during the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company's stock valued at $30,000 after buying an additional 324 shares in the last quarter. Marquette Asset Management LLC grew its holdings in Sysco by 367.4% during the 4th quarter. Marquette Asset Management LLC now owns 402 shares of the company's stock valued at $30,000 after buying an additional 316 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in Sysco during the 2nd quarter valued at approximately $31,000. Institutional investors own 83.41% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Argus raised shares of Sysco to a "hold" rating in a report on Thursday, January 29th. Morgan Stanley cut their target price on shares of Sysco from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Tuesday, January 20th. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, January 28th. UBS Group cut their target price on shares of Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Finally, Piper Sandler cut their target price on shares of Sysco from $83.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Sysco has a consensus rating of "Moderate Buy" and a consensus price target of $88.15.

Sysco Stock Performance

SYY stock opened at $72.46 on Friday. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. The business has a 50-day moving average price of $78.94 and a 200 day moving average price of $78.26. The company has a market capitalization of $34.65 billion, a P/E ratio of 20.07, a PEG ratio of 2.96 and a beta of 0.66. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.94 EPS 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 revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior 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, equities research analysts forecast that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be paid 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 dividend yield of 3.0%. Sysco's payout ratio is presently 60.94%.

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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