Eminence Capital LP lifted its stake in shares of Sysco Corporation (NYSE:SYY – Free Report) by 71.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 897,277 shares of the company’s stock after buying an additional 374,882 shares during the quarter. Eminence Capital LP owned about 0.19% of Sysco worth $66,120,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. bought a new position in shares of Sysco during the 3rd quarter worth about $25,000. Lloyd Advisory Services LLC. bought a new stake in Sysco in the 4th quarter valued at about $25,000. Motiv8 Investments LLC acquired a new position in Sysco during the 4th quarter worth approximately $25,000. Torren Management LLC acquired a new position in Sysco during the 4th quarter worth approximately $27,000. Finally, Bard Associates Inc. bought a new position in Sysco in the fourth quarter worth approximately $27,000. Institutional investors own 83.41% of the company’s stock.
Insiders Place Their Bets
In other news, Director John M. Hinshaw purchased 13,304 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the acquisition, the director 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.56% of the company’s stock.
Sysco Trading Down 0.8%
Sysco (NYSE:SYY – Get Free Report) last issued its quarterly earnings data 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 company had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. Sysco’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share. 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 earnings per share for the current fiscal year.
Sysco Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This is an increase from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.8%. Sysco’s payout ratio is 59.83%.
Analyst Upgrades and Downgrades
SYY has been the subject of a number of research reports. Sanford C. Bernstein reduced their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 30th. Guggenheim decreased their price target on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Piper Sandler lowered their price objective on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Citigroup raised 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. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.15.
View Our Latest Stock Report on Sysco
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.
Read More
- Five stocks we like better than Sysco
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.
