Swiss Life Asset Management Ltd Purchases 68,171 Shares of Sysco Corporation $SYY

Key Points

• Swiss Life Asset Management increased its Sysco stake by 79.3% in the fourth quarter, buying 68,171 additional shares and bringing its total holding to 154,130 shares worth about $11.36 million.
• Sysco reported mixed quarterly results, with EPS of $0.94 missing estimates by a penny and revenue of $20.52 billion slightly below forecasts, though sales still rose 4.7% year over year.
• The company raised its quarterly dividend to $0.55 per share, implying an annualized yield of about 3.0%, while analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $88.15.

Swiss Life Asset Management Ltd grew its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 79.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,130 shares of the company's stock after acquiring an additional 68,171 shares during the period. Swiss Life Asset Management Ltd's holdings in Sysco were worth $11,358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas increased its stake in shares of Sysco by 8.0% during the fourth quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company's stock valued at $27,307,000 after purchasing an additional 27,510 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Sysco by 9.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company's stock valued at $30,445,000 after purchasing an additional 35,647 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of Sysco by 320.9% during the third quarter. AE Wealth Management LLC now owns 79,589 shares of the company's stock valued at $6,553,000 after purchasing an additional 60,680 shares in the last quarter. Krilogy Financial LLC increased its stake in shares of Sysco by 65.6% during the third quarter. Krilogy Financial LLC now owns 42,435 shares of the company's stock valued at $3,494,000 after purchasing an additional 16,807 shares in the last quarter. Finally, Carrera Capital Advisors purchased a new stake in shares of Sysco during the third quarter valued at approximately $3,611,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

Sysco stock opened at $73.00 on Wednesday. The company's 50-day moving average price is $77.92 and its 200-day moving average price is $78.13. 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 $34.91 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.96 and a beta of 0.66. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). The business had revenue of $20.52 billion for 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 firm's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, equities research analysts forecast that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders 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 represents a $2.20 annualized dividend and a dividend yield of 3.0%. This is a positive change from Sysco's previous quarterly dividend of $0.54. Sysco's dividend payout ratio is currently 60.94%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SYY. Wall Street Zen cut shares of Sysco from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Truist Financial increased their price target on shares of Sysco from $90.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. 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. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, January 28th. Finally, Guggenheim lowered their target price on shares of Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, April 2nd. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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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