OP Asset Management Ltd Invests $3.53 Million in Sysco Corporation $SYY

OP Asset Management Ltd purchased a new stake in Sysco Corporation (NYSE:SYY) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 49,466 shares of the company’s stock, valued at approximately $3,528,000.

Other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise grew its stake in shares of Sysco by 301.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock worth $1,200,000 after purchasing an additional 12,641 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Sysco by 6.3% during the first quarter. Assenagon Asset Management S.A. now owns 14,169 shares of the company’s stock worth $1,011,000 after buying an additional 837 shares in the last quarter. Brave Asset Management Inc. boosted its holdings in Sysco by 9.2% during the first quarter. Brave Asset Management Inc. now owns 3,960 shares of the company’s stock worth $282,000 after buying an additional 332 shares in the last quarter. Cidel Asset Management Inc. grew its position in Sysco by 23.7% during the first quarter. Cidel Asset Management Inc. now owns 4,329 shares of the company’s stock worth $309,000 after buying an additional 830 shares during the period. Finally, Krilogy Financial LLC increased its holdings in Sysco by 8.8% in the first quarter. Krilogy Financial LLC now owns 62,210 shares of the company’s stock valued at $4,607,000 after buying an additional 5,006 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

SYY stock opened at $82.83 on Friday. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. The stock’s 50 day moving average price is $76.01 and its 200 day moving average price is $78.52. The firm has a market cap of $39.61 billion, a P/E ratio of 22.95, a PEG ratio of 3.30 and a beta of 0.65.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 28th. The company reported $0.94 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 for the quarter, compared to analyst estimates of $20.56 billion. During the same quarter last year, the company posted $0.96 EPS. Sysco’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. On average, sell-side analysts expect that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend 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 dividend yield of 2.7%. Sysco’s dividend payout ratio is 59.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SYY shares. UBS Group decreased their price target on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Piper Sandler dropped their price objective on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Guggenheim reduced their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Citigroup boosted their target price on Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Barclays lowered their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus price target of $88.15.

Insider Buying and Selling

In other news, Director John M. Hinshaw bought 13,304 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director owned 40,200 shares of the company’s stock, valued at $3,021,834. This trade represents a 49.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.56% of the company’s stock.

About Sysco

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.