Illinois Municipal Retirement Fund Purchases 63,434 Shares of Sysco Corporation $SYY

Illinois Municipal Retirement Fund boosted its stake in Sysco Corporation (NYSE:SYY) by 34.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 249,243 shares of the company’s stock after buying an additional 63,434 shares during the period. Illinois Municipal Retirement Fund’s holdings in Sysco were worth $18,367,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Montag A & Associates Inc. increased its holdings in Sysco by 1.4% in the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after purchasing an additional 123 shares during the period. United Community Bank increased its holdings in Sysco by 11.4% in the fourth quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after purchasing an additional 125 shares during the period. Octavia Wealth Advisors LLC increased its holdings in Sysco by 4.6% in the fourth quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock valued at $237,000 after purchasing an additional 141 shares during the period. Diversify Wealth Management LLC increased its holdings in Sysco by 1.6% in the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after purchasing an additional 143 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Sysco by 11.1% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,469 shares of the company’s stock valued at $108,000 after purchasing an additional 147 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Barclays decreased their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft downgraded Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Tuesday, April 28th. Citigroup increased their price objective on Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Weiss Ratings downgraded Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 30th. Finally, Piper Sandler decreased their price target on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.15.

Sysco Stock Performance

Shares of Sysco stock opened at $78.68 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The business has a 50-day moving average price of $74.43 and a two-hundred day moving average price of $78.15. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a market cap of $37.62 billion, a P/E ratio of 21.80, a PEG ratio of 3.17 and a beta of 0.65.

Sysco (NYSE:SYY) last issued its quarterly earnings results 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 business had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, analysts anticipate that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.55 per share. This is a boost from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.8%. Sysco’s payout ratio is currently 59.83%.

Insider Activity

In related news, Director John M. Hinshaw acquired 13,304 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

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.