Federated Hermes Inc. Acquires 56,196 Shares of Sysco Corporation $SYY

Federated Hermes Inc. lifted its holdings in shares of Sysco Corporation (NYSE:SYY) by 2,664.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,305 shares of the company’s stock after acquiring an additional 56,196 shares during the quarter. Federated Hermes Inc.’s holdings in Sysco were worth $4,801,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Gateway Investment Advisers LLC grew 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 buying an additional 73,298 shares in the last quarter. Norges Bank bought a new stake in shares of Sysco during the 2nd quarter worth approximately $493,686,000. Accurate Wealth Management LLC acquired a new stake in shares of Sysco during the 3rd quarter worth approximately $2,497,000. Brighton Jones LLC increased its stake in Sysco by 4.3% in the second quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock valued at $6,842,000 after acquiring an additional 3,760 shares during the last quarter. Finally, Shell Asset Management Co. raised its position in Sysco by 31.6% during the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock valued at $1,456,000 after purchasing an additional 4,620 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $82.76 on Tuesday. The business’s 50-day moving average price is $75.77 and its 200-day moving average price is $77.95. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $85.33. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45. The firm has a market capitalization of $39.63 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 2.60 and a beta of 0.61.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 27th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The business had revenue of $20.76 billion for the quarter, compared to the consensus estimate of $20.80 billion. During the same period last year, the company earned $0.93 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Equities research analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Friday, January 2nd were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.16 annualized dividend and a dividend yield of 2.6%. Sysco’s payout ratio is currently 58.06%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sysco in a report on Wednesday, January 28th. Piper Sandler upped their price objective on Sysco from $80.00 to $83.00 and gave the stock a “neutral” 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, October 25th. Barclays increased their target price on shares of Sysco from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Finally, Citigroup lifted their price target on shares of Sysco from $81.00 to $88.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.38.

Insiders Place Their Bets

In related news, EVP Ronald L. Phillips sold 5,601 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the transaction, the executive vice president directly owned 35,965 shares of the company’s stock, valued at $2,913,165. This trade represents a 13.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

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.