Sysco Corporation $SYY Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. cut its stake in Sysco Corporation (NYSE:SYY) by 10.3% during the 4th quarter, HoldingsChannel reports. The firm owned 5,691,461 shares of the company’s stock after selling 651,878 shares during the quarter. Sysco accounts for about 2.1% of Diamond Hill Capital Management Inc.’s portfolio, making the stock its 9th largest position. Diamond Hill Capital Management Inc.’s holdings in Sysco were worth $419,404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas boosted its stake in shares of Sysco by 8.0% in the fourth quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company’s stock valued at $27,307,000 after purchasing an additional 27,510 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Sysco by 9.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company’s stock worth $30,445,000 after buying an additional 35,647 shares during the period. AE Wealth Management LLC lifted its holdings in Sysco by 320.9% in the 3rd quarter. AE Wealth Management LLC now owns 79,589 shares of the company’s stock worth $6,553,000 after buying an additional 60,680 shares in the last quarter. Krilogy Financial LLC boosted its position in Sysco by 65.6% in the 3rd quarter. Krilogy Financial LLC now owns 42,435 shares of the company’s stock valued at $3,494,000 after buying an additional 16,807 shares during the last quarter. Finally, Nicholas Company Inc. purchased a new position in Sysco in the 4th quarter valued at about $2,278,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Sanford C. Bernstein dropped their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Barclays cut their price target on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings downgraded Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 30th. Jefferies Financial Group increased their target price on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Truist Financial raised their price target on shares of Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.15.

Sysco Trading Up 2.1%

NYSE:SYY opened at $77.06 on Friday. The firm has a market capitalization of $36.85 billion, a P/E ratio of 21.34, a P/E/G ratio of 3.08 and a beta of 0.66. The business has a 50 day simple moving average of $76.19 and a 200 day simple moving average of $78.03. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $20.56 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. The business’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. Equities research analysts predict that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a $0.55 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 annualized dividend and a yield of 2.9%. This is a boost from Sysco’s previous quarterly dividend of $0.54. Sysco’s payout ratio is 59.83%.

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.