First Horizon Corp Takes Position in Sysco Corporation $SYY

First Horizon Corp acquired a new position in shares of Sysco Corporation (NYSE:SYY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,687 shares of the company’s stock, valued at approximately $1,045,000.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Sysco during the 2nd quarter worth approximately $493,686,000. Vanguard Group Inc. raised its holdings in Sysco by 2.0% during the second quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock worth $4,748,230,000 after purchasing an additional 1,226,381 shares during the last quarter. Marshall Wace LLP raised its holdings in Sysco by 207.6% during the second quarter. Marshall Wace LLP now owns 1,164,656 shares of the company’s stock worth $88,211,000 after purchasing an additional 785,995 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Sysco by 143.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,215,260 shares of the company’s stock worth $92,044,000 after purchasing an additional 715,663 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Sysco by 163.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 710,900 shares of the company’s stock valued at $58,536,000 after buying an additional 440,700 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Up 0.1%

Shares of NYSE SYY opened at $74.33 on Tuesday. The firm has a market cap of $35.59 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61. 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 1 year low of $67.12 and a 1 year high of $83.47. The firm’s 50 day moving average price is $74.44 and its 200 day moving average price is $77.69.

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

Sysco Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Barclays increased their price target on shares of Sysco from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Citigroup cut their price objective on Sysco from $82.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, January 7th. Guggenheim upped their target price on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Sanford C. Bernstein initiated coverage on Sysco in a research report on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price target for the company. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.00.

Sysco 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.