First Horizon Corp Makes New Investment in Sysco Corporation $SYY

First Horizon Corp purchased a new stake in Sysco Corporation (NYSE:SYY) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 12,687 shares of the company’s stock, valued at approximately $1,045,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SYY. Salvus Wealth Management LLC bought a new stake in shares of Sysco in the second quarter worth $329,000. Gateway Investment Advisers LLC raised its stake in Sysco by 594.8% during the third quarter. Gateway Investment Advisers LLC now owns 85,622 shares of the company’s stock worth $7,050,000 after acquiring an additional 73,298 shares during the period. Norges Bank bought a new stake in shares of Sysco in the 2nd quarter worth approximately $493,686,000. Accurate Wealth Management LLC bought a new stake in Sysco in the third quarter valued at $2,497,000. Finally, Brighton Jones LLC boosted its stake in Sysco by 4.3% during the 2nd quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock valued at $6,842,000 after purchasing an additional 3,760 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Trading Up 0.1%

NYSE SYY opened at $74.33 on Tuesday. The firm’s 50 day moving average price is $74.44 and its two-hundred day moving average price is $77.69. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.65 and a current ratio of 1.15. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.47. The stock has a market cap of $35.59 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 2.45 and a beta of 0.61.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. The business had revenue of $21.15 billion during the quarter, compared to analysts’ expectations of $21.03 billion. Sysco had a return on equity of 112.04% and a net margin of 2.21%.Sysco’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s dividend payout ratio is 57.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein began coverage on Sysco in a report on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price target on the stock. Morgan Stanley set a $88.00 target price on Sysco in a research note on Tuesday, October 21st. Guggenheim boosted their price target on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Citigroup lowered their price target on Sysco from $82.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, January 7th. Finally, Piper Sandler dropped their target price on Sysco from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, December 12th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

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.