Rakuten Investment Management Inc. Takes Position in Sysco Corporation $SYY

Rakuten Investment Management Inc. purchased a new position in Sysco Corporation (NYSE:SYY) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 129,807 shares of the company’s stock, valued at approximately $10,688,000.

Other institutional investors have also made changes to their positions in the company. Gateway Investment Advisers LLC grew its stake in shares of Sysco by 594.8% during the 3rd 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 in the last quarter. Norges Bank acquired a new position in Sysco during the second quarter worth $493,686,000. Accurate Wealth Management LLC bought a new position in Sysco in the third quarter valued at $2,497,000. Brighton Jones LLC increased its stake in Sysco by 4.3% in the 2nd quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock valued at $6,842,000 after buying an additional 3,760 shares during the last quarter. Finally, Shell Asset Management Co. increased its stake in Sysco by 31.6% in the 2nd quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock valued at $1,456,000 after buying an additional 4,620 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SYY shares. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Piper Sandler decreased their price target on Sysco from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. Sanford C. Bernstein assumed coverage on Sysco in a research report on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price target on the stock. Guggenheim increased their price objective on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a report on Monday, October 6th. Finally, Citigroup decreased their target price on shares of Sysco from $82.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $85.75.

Sysco Stock Up 0.5%

SYY stock opened at $76.93 on Thursday. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47. The business’s 50 day simple moving average is $74.90 and its 200 day simple moving average is $77.73. The company has a current ratio of 1.15, a quick ratio of 0.65 and a debt-to-equity ratio of 5.54. The firm has a market capitalization of $36.84 billion, a PE ratio of 20.62, a PEG ratio of 2.52 and a beta of 0.61.

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

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.16 annualized dividend and a dividend yield of 2.8%. Sysco’s payout ratio is presently 57.91%.

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.