Louisiana State Employees Retirement System Invests $1.74 Million in Sysco Corporation $SYY

Louisiana State Employees Retirement System bought a new stake in shares of Sysco Corporation (NYSE:SYY) during the 1st quarter, Holdings Channel reports. The institutional investor bought 24,400 shares of the company’s stock, valued at approximately $1,740,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. purchased a new stake in shares of Sysco during the fourth quarter worth about $25,000. Motiv8 Investments LLC acquired a new position in shares of Sysco during the fourth quarter valued at about $25,000. Torren Management LLC purchased a new position in shares of Sysco in the 4th quarter valued at approximately $27,000. Bard Associates Inc. acquired a new stake in Sysco in the 4th quarter worth approximately $27,000. Finally, Elyxium Wealth LLC acquired a new stake in Sysco in the 4th quarter worth approximately $28,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Up 0.1%

Shares of NYSE:SYY opened at $83.67 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The business has a 50 day moving average of $76.50 and a two-hundred day moving average of $78.77. The company has a market capitalization of $40.01 billion, a PE ratio of 23.18, a PEG ratio of 3.41 and a beta of 0.64.

Sysco (NYSE:SYY) last posted its 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). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm had revenue of $20.52 billion for the quarter, compared to analysts’ expectations of $20.56 billion. During the same period last year, the firm 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, analysts forecast 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. Shareholders of record on Thursday, July 2nd will be issued 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 dividend on an annualized basis and a yield of 2.6%. Sysco’s dividend payout ratio is presently 59.83%.

Insider Buying and Selling at Sysco

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

Analysts Set New Price Targets

A number of brokerages have issued reports on SYY. Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a research note on Friday, June 26th. Citigroup lifted their price objective on shares of Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Piper Sandler cut their target price on Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Barclays reduced their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft cut Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research report on Tuesday, April 28th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.15.

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.