Pinebridge Investments LLC Acquires Shares of 201,952 Sysco Corporation $SYY

Pinebridge Investments LLC acquired a new stake in Sysco Corporation (NYSE:SYY) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 201,952 shares of the company’s stock, valued at approximately $14,882,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYY. Intech Investment Management LLC lifted its position in Sysco by 53.1% in the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after purchasing an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. lifted its position in Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after purchasing an additional 2,000 shares during the last quarter. NewEdge Advisors LLC lifted its position in Sysco by 62.4% in the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock valued at $2,685,000 after purchasing an additional 13,616 shares during the last quarter. Sei Investments Co. lifted its position in Sysco by 14.2% in the second quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock valued at $26,092,000 after purchasing an additional 42,903 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Sysco by 0.8% in the second quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after purchasing an additional 1,710 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SYY. Guggenheim lowered their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Piper Sandler lowered their price objective on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 30th. Barclays reduced their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, UBS Group reduced their target price on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Nine investment 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 has a consensus rating of “Moderate Buy” and an average target price of $88.15.

Insiders Place Their Bets

In other news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares in the company, valued at approximately $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 this hyperlink. 0.56% of the stock is currently owned by insiders.

Sysco Price Performance

SYY opened at $76.36 on Friday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The stock has a market capitalization of $36.51 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 3.12 and a beta of 0.65. The stock’s 50 day moving average price is $74.45 and its 200-day moving average price is $78.09.

Sysco (NYSE:SYY) last issued its quarterly 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 return on equity of 103.57% and a net margin of 2.08%.Sysco’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, equities research analysts predict that Sysco Corporation will post 4.59 EPS for the current 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 paid 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 yield of 2.9%. Sysco’s payout ratio is currently 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.