Sysco Corporation $SYY Shares Bought by Allstate Corp

Key Points

• Allstate Corp more than doubled its stake in Sysco during the fourth quarter, buying 18,461 additional shares and ending with 36,057 shares valued at about $2.66 million.
• Sysco reported fiscal quarter earnings of $0.94 per share, just below estimates, while revenue of $20.52 billion also slightly missed expectations but still rose 4.7% year over year.
• The company raised its quarterly dividend to $0.55 per share, marking a small increase from $0.54 and implying an annualized yield of about 2.9%.

Allstate Corp boosted its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 104.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,057 shares of the company's stock after buying an additional 18,461 shares during the period. Allstate Corp's holdings in Sysco were worth $2,657,000 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. Montag A & Associates Inc. lifted its stake in shares of Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company's stock valued at $644,000 after purchasing an additional 123 shares during the last quarter. United Community Bank lifted its stake in shares of Sysco by 11.4% in the 4th quarter. United Community Bank now owns 1,224 shares of the company's stock valued at $90,000 after purchasing an additional 125 shares during the last quarter. Octavia Wealth Advisors LLC lifted its stake in shares of Sysco by 4.6% in the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company's stock valued at $237,000 after purchasing an additional 141 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in shares of Sysco by 1.6% in the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company's stock valued at $698,000 after purchasing an additional 143 shares during the last quarter. Finally, Capital Investment Advisory Services LLC lifted its stake in shares of Sysco by 3.2% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 4,942 shares of the company's stock valued at $407,000 after purchasing an additional 151 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

SYY stock opened at $75.23 on Thursday. 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 company has a market capitalization of $35.97 billion, a PE ratio of 20.84, a P/E/G ratio of 3.08 and a beta of 0.66. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The business's fifty day moving average price is $75.47 and its 200 day moving average price is $78.11.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data 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). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm had revenue of $20.52 billion during the quarter, compared to analysts' expectations of $20.56 billion. During the same quarter in the prior year, the firm posted $0.96 EPS. Sysco's quarterly revenue was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, sell-side analysts anticipate that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The business also recently declared 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 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 annualized dividend and a yield of 2.9%. Sysco's dividend payout ratio (DPR) is currently 59.83%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Jefferies Financial Group upped their price target on Sysco from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. Wells Fargo & Company boosted their price objective on Sysco from $92.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, February 19th. BMO Capital Markets reiterated an "outperform" rating on shares of Sysco in a report on Wednesday, January 28th. UBS Group cut their price objective on Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, April 2nd. Finally, Citigroup boosted their price objective on Sysco from $78.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Sysco currently has an average rating of "Moderate Buy" and a consensus 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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