Allstate Corp Invests $1.45 Million in Sysco Corporation $SYY

Allstate Corp acquired a new position in shares of Sysco Corporation (NYSE:SYY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,596 shares of the company’s stock, valued at approximately $1,449,000.

Several other hedge funds have also recently added to or reduced their stakes in SYY. Harbor Capital Advisors Inc. raised its holdings in Sysco by 75.0% in the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock worth $26,000 after purchasing an additional 135 shares during the period. Chung Wu Investment Group LLC bought a new stake in shares of Sysco in the 2nd quarter valued at $30,000. Darwin Wealth Management LLC bought a new stake in shares of Sysco in the 2nd quarter valued at $31,000. Vermillion & White Wealth Management Group LLC lifted its holdings in Sysco by 94.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock worth $32,000 after acquiring an additional 204 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in Sysco by 234.3% during the second quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the subject of several research analyst reports. Citigroup reduced their price target on shares of Sysco from $82.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, January 7th. Guggenheim lifted their price target on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a report on Monday, December 29th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Barclays boosted their target price on Sysco from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.75.

Sysco Trading Down 3.0%

Shares of Sysco stock opened at $76.47 on Wednesday. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.65 and a current ratio of 1.15. The firm has a 50-day moving average of $74.87 and a 200-day moving average of $77.74. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The stock has a market cap of $36.62 billion, a PE ratio of 20.50, a PEG ratio of 2.59 and a beta of 0.61.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The firm had revenue of $21.15 billion for the quarter, compared to analyst estimates of $21.03 billion. During the same quarter last year, the company earned $1.09 EPS. The company’s 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, sell-side analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s dividend payout ratio (DPR) 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.