King Luther Capital Management Corp Acquires 11,362 Shares of Sysco Corporation $SYY

King Luther Capital Management Corp boosted its holdings in shares of Sysco Corporation (NYSE:SYY) by 33.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,831 shares of the company’s stock after purchasing an additional 11,362 shares during the period. King Luther Capital Management Corp’s holdings in Sysco were worth $3,304,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYY. Flputnam Investment Management Co. raised its stake in Sysco by 10.6% during the fourth quarter. Flputnam Investment Management Co. now owns 41,778 shares of the company’s stock worth $3,079,000 after acquiring an additional 4,016 shares in the last quarter. Studio Investment Management LLC raised its stake in Sysco by 14.1% during the fourth quarter. Studio Investment Management LLC now owns 11,027 shares of the company’s stock worth $813,000 after acquiring an additional 1,363 shares in the last quarter. Integrity Alliance LLC. raised its stake in Sysco by 5.8% during the fourth quarter. Integrity Alliance LLC. now owns 6,620 shares of the company’s stock worth $488,000 after acquiring an additional 362 shares in the last quarter. AlphaQuest LLC raised its stake in Sysco by 1,146.6% during the fourth quarter. AlphaQuest LLC now owns 30,305 shares of the company’s stock worth $2,233,000 after acquiring an additional 27,874 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Sysco by 11.1% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,469 shares of the company’s stock worth $108,000 after buying an additional 147 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of several research analyst reports. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Guggenheim decreased their price objective 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. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research note on Tuesday, April 28th. Barclays decreased 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. Finally, Sanford C. Bernstein reduced their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $88.15.

Insider Activity at Sysco

In other news, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Sysco Trading Up 0.9%

Shares of NYSE SYY opened at $75.88 on Friday. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a market cap of $36.28 billion, a PE ratio of 21.02, a P/E/G ratio of 3.07 and a beta of 0.66. 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 50-day moving average of $75.30 and a two-hundred day moving average of $78.12.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 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 company had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.56 billion. During the same period last year, the company earned $0.96 earnings per share. Sysco’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, equities analysts expect that Sysco Corporation will post 4.59 earnings per share for the current fiscal 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 paid a $0.55 dividend. This is an increase from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. Sysco’s payout ratio is 59.83%.

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.