Raiffeisen Bank International AG Increases Position in Sysco Corporation $SYY

Key Points

• Raiffeisen Bank International AG increased its Sysco stake by 74.4% in Q4, adding 141,297 shares to reach 331,202 shares valued at about $24.6 million.
• Sysco’s stock rose 1.4% to open at $79.67, while the company reported mixed quarterly results: EPS of $0.94 narrowly missed estimates and revenue of $20.52 billion came in slightly below expectations.
• The company raised its quarterly dividend to $0.55 per share, and analysts currently rate the stock a “Moderate Buy” with an average price target of $88.15.

Raiffeisen Bank International AG lifted its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 74.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 331,202 shares of the company's stock after buying an additional 141,297 shares during the period. Raiffeisen Bank International AG owned approximately 0.07% of Sysco worth $24,575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYY. Norges Bank purchased a new position in shares of Sysco in the 4th quarter worth approximately $542,780,000. Wellington Management Group LLP boosted its stake in shares of Sysco by 3,977.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company's stock worth $387,935,000 after buying an additional 4,595,819 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Sysco by 45.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company's stock worth $416,472,000 after buying an additional 1,754,306 shares during the last quarter. Mondrian Investment Partners LTD purchased a new position in shares of Sysco in the 3rd quarter worth approximately $142,237,000. Finally, Marshall Wace LLP boosted its stake in shares of Sysco by 102.6% in the 3rd quarter. Marshall Wace LLP now owns 2,359,471 shares of the company's stock worth $194,279,000 after buying an additional 1,194,815 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Trading Up 1.4%

NYSE:SYY opened at $79.67 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The stock has a market capitalization of $38.10 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 3.21 and a beta of 0.65. The firm's 50 day moving average is $74.59 and its 200 day moving average is $78.17. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly 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 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 for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Sell-side analysts expect that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The firm 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 dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, July 2nd. This is a positive change from Sysco's previous quarterly dividend of $0.54. Sysco's payout ratio is presently 59.83%.

Insider Transactions at Sysco

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the acquisition, the director directly owned 40,200 shares of the company's stock, valued at $3,021,834. The trade was a 49.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft downgraded Sysco from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research note on Tuesday, April 28th. Wells Fargo & Company boosted their target price on Sysco from $92.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, February 19th. Weiss Ratings cut shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, March 30th. Finally, Sanford C. Bernstein lowered their price target on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating on the stock in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.15.

About Sysco

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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