Sysco Corporation $SYY Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Sysco Corporation (NYSE:SYY) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund owned 548,300 shares of the company’s stock after purchasing an additional 14,239 shares during the period. Principal Financial Group Inc.’s holdings in Sysco were worth $40,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Sysco during the 3rd quarter worth approximately $25,000. Peterson Wealth Services raised its stake in shares of Sysco by 875.7% during the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company’s stock worth $30,000 after buying an additional 324 shares during the period. Torren Management LLC acquired a new position in shares of Sysco during the 4th quarter worth approximately $27,000. Marquette Asset Management LLC raised its stake in shares of Sysco by 367.4% during the 4th quarter. Marquette Asset Management LLC now owns 402 shares of the company’s stock worth $30,000 after buying an additional 316 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in shares of Sysco during the 2nd quarter worth approximately $31,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SYY. Wells Fargo & Company upped their target price on Sysco from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. UBS Group reduced their target price on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Truist Financial upped their target price on Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sysco in a research note on Wednesday, January 28th. Finally, Guggenheim reduced their target price on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.15.

Sysco Stock Down 0.6%

Shares of NYSE:SYY opened at $72.46 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The business has a fifty day moving average of $78.94 and a two-hundred day moving average of $78.26. The stock has a market cap of $34.65 billion, a P/E ratio of 20.07, a PEG ratio of 2.96 and a beta of 0.66. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). The company had revenue of $20.52 billion during the quarter, compared to analysts’ expectations of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter 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, research analysts expect that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. Sysco’s dividend payout ratio (DPR) is 60.94%.

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.