Sysco Corporation $SYY Shares Sold by Yacktman Asset Management LP

Key Points

• Yacktman Asset Management LP cut its Sysco stake by 2.3% in the fourth quarter, selling 29,151 shares and ending with 1,223,605 shares valued at about $90.2 million.
• Sysco reported mixed quarterly results: earnings per share of $0.94 slightly missed estimates, while revenue of $20.52 billion also came in just below expectations but still rose 4.7% year over year.
• The company raised its quarterly dividend to $0.55 per share from $0.54, implying a $2.20 annualized payout and a dividend yield of about 3.0%.

Yacktman Asset Management LP reduced its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,223,605 shares of the company's stock after selling 29,151 shares during the quarter. Yacktman Asset Management LP owned about 0.26% of Sysco worth $90,167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Montag A & Associates Inc. raised its stake in Sysco by 1.4% during the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company's stock worth $644,000 after acquiring an additional 123 shares in the last quarter. United Community Bank increased its stake in Sysco by 11.4% in the fourth 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 period. Global Retirement Partners LLC increased its stake in Sysco by 4.6% in the third quarter. Global Retirement Partners LLC now owns 3,227 shares of the company's stock valued at $266,000 after purchasing an additional 141 shares during the period. Octavia Wealth Advisors LLC increased its stake in Sysco by 4.6% in the fourth 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 period. Finally, Diversify Wealth Management LLC increased its stake in Sysco by 1.6% in the fourth 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 period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SYY. Barclays dropped their price objective on shares of Sysco from $92.00 to $86.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Truist Financial lifted their price objective on shares of Sysco from $90.00 to $94.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. Argus upgraded shares of Sysco to a "hold" rating in a research note on Thursday, January 29th. Citigroup lifted their price objective on shares of Sysco from $78.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings lowered shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 30th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.15.

Sysco Stock Down 0.6%

Shares of NYSE:SYY opened at $72.46 on Friday. The company has a market cap of $34.65 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.98 and a beta of 0.66. The firm's 50-day simple moving average is $78.94 and its 200-day simple moving average is $78.26. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $20.52 billion during 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 revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, equities research analysts predict that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a $0.55 dividend. 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. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. Sysco's 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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