Rayburn West Financial Services LLC Invests $8.35 Million in Sysco Corporation $SYY

Rayburn West Financial Services LLC bought a new position in shares of Sysco Corporation (NYSE:SYY) in the fourth quarter, HoldingsChannel reports. The firm bought 113,314 shares of the company’s stock, valued at approximately $8,350,000. Sysco accounts for 5.2% of Rayburn West Financial Services LLC’s investment portfolio, making the stock its 3rd largest holding.

A number of other institutional investors also recently modified their holdings of the company. Navalign LLC purchased a new stake in shares of Sysco during the fourth quarter worth about $29,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Sysco by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,843 shares of the company’s stock worth $4,041,000 after purchasing an additional 300 shares during the period. Ameritas Advisory Services LLC boosted its holdings in shares of Sysco by 479.2% during the fourth quarter. Ameritas Advisory Services LLC now owns 3,070 shares of the company’s stock worth $226,000 after purchasing an additional 2,540 shares during the period. World Investment Advisors boosted its holdings in shares of Sysco by 20.4% during the fourth quarter. World Investment Advisors now owns 10,670 shares of the company’s stock worth $786,000 after purchasing an additional 1,807 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Sysco by 12.7% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 801,400 shares of the company’s stock worth $59,055,000 after purchasing an additional 90,500 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Up 0.2%

Shares of NYSE SYY opened at $73.14 on Thursday. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The stock has a market cap of $34.97 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 2.98 and a beta of 0.66. The firm has a 50-day moving average of $77.57 and a 200 day moving average of $78.09. 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 (NYSE:SYY) last issued its quarterly 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 business had revenue of $20.52 billion for the quarter, compared to analysts’ expectations of $20.56 billion. During the same period last year, the business earned $0.96 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, sell-side analysts expect that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a dividend of $0.55 per share. This is an increase from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend 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 is 59.83%.

Analyst Upgrades and Downgrades

SYY has been the subject of several research analyst reports. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research note on Tuesday, April 28th. UBS Group cut their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Finally, Argus raised shares of Sysco to a “hold” rating in a research note on Thursday, January 29th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.