Yacktman Asset Management LP Decreases Stock Holdings in Sysco Corporation $SYY

Yacktman Asset Management LP lowered its stake in shares of Sysco Corporation (NYSE:SYY) by 2.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,223,605 shares of the company’s stock after selling 29,151 shares during the period. Yacktman Asset Management LP’s holdings in Sysco were worth $90,167,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. purchased a new stake in Sysco during the third quarter worth about $25,000. Torren Management LLC purchased a new stake in Sysco during the fourth quarter worth about $27,000. Peterson Wealth Services boosted its holdings in Sysco by 875.7% during the third quarter. Peterson Wealth Services now owns 361 shares of the company’s stock worth $30,000 after buying an additional 324 shares in the last quarter. Marquette Asset Management LLC boosted its holdings in Sysco by 367.4% during the fourth quarter. Marquette Asset Management LLC now owns 402 shares of the company’s stock worth $30,000 after buying an additional 316 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in Sysco during the second quarter worth about $31,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY opened at $72.46 on Friday. 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 stock has a market cap of $34.65 billion, a P/E ratio of 20.07, a PEG ratio of 2.98 and a beta of 0.66. The company has a 50-day moving average of $78.94 and a two-hundred day moving average of $78.26. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

Sysco (NYSE:SYY) last announced 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). The business had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, research analysts predict that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.55 per share. The ex-dividend date 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 yield of 3.0%. Sysco’s dividend payout ratio (DPR) is presently 59.83%.

Analysts Set New Price Targets

A number of analysts recently commented on SYY shares. Morgan Stanley decreased their price objective on shares of Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Wells Fargo & Company boosted their price objective on shares of Sysco from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. Piper Sandler decreased 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. Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a report on Tuesday, April 28th. Finally, Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.15.

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.