Allstate Corp Grows Stake in Sysco Corporation $SYY

Allstate Corp grew its holdings in Sysco Corporation (NYSE:SYY) by 104.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 36,057 shares of the company’s stock after acquiring an additional 18,461 shares during the quarter. Allstate Corp’s holdings in Sysco were worth $2,657,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Montag A & Associates Inc. increased its holdings in shares of Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after acquiring an additional 123 shares during the last quarter. United Community Bank increased its holdings in shares of Sysco by 11.4% in the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after acquiring an additional 125 shares during the last quarter. Octavia Wealth Advisors LLC increased its holdings in shares of Sysco by 4.6% in the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock valued at $237,000 after acquiring an additional 141 shares during the last quarter. Diversify Wealth Management LLC increased its holdings in shares of Sysco by 1.6% in the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after acquiring an additional 143 shares during the last quarter. Finally, Capital Investment Advisory Services LLC increased its holdings in shares of Sysco by 3.2% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 4,942 shares of the company’s stock valued at $407,000 after acquiring an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In related news, Director John M. Hinshaw acquired 13,304 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares of the company’s stock, valued at $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

Sysco Stock Down 0.1%

Shares of NYSE SYY opened at $75.23 on Thursday. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The business has a 50-day moving average price of $75.47 and a 200 day moving average price of $78.11. 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 stock has a market cap of $35.97 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 3.08 and a beta of 0.66.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The company had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same period in the previous year, the business posted $0.96 earnings per share. The firm’s 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. Equities research analysts forecast that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.9%. 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. Sysco’s payout ratio is 59.83%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Barclays decreased their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, UBS Group decreased their target price on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $88.15.

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.