Cibc World Market Inc. Buys 100,191 Shares of Sysco Corporation $SYY

Cibc World Market Inc. grew its stake in shares of Sysco Corporation (NYSE:SYY) by 279.0% in the third quarter, Holdings Channel reports. The fund owned 136,105 shares of the company’s stock after acquiring an additional 100,191 shares during the quarter. Cibc World Market Inc.’s holdings in Sysco were worth $11,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of SYY. Vanguard Group Inc. lifted its position in shares of Sysco by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after buying an additional 1,226,381 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Sysco by 1.5% during the second quarter. Geode Capital Management LLC now owns 12,551,872 shares of the company’s stock valued at $946,694,000 after purchasing an additional 183,179 shares during the last quarter. Norges Bank bought a new position in Sysco during the second quarter worth about $493,686,000. Charles Schwab Investment Management Inc. raised its position in shares of Sysco by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,131,931 shares of the company’s stock valued at $237,212,000 after purchasing an additional 27,693 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Sysco by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,639,931 shares of the company’s stock valued at $201,076,000 after buying an additional 283,706 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYY. Barclays boosted their target price on shares of Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Morgan Stanley dropped their price objective on Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Argus raised Sysco to a “hold” rating in a report on Thursday, January 29th. Wells Fargo & Company increased their price target 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, Guggenheim boosted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Friday. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.69.

Insider Buying and Selling

In other news, EVP Ronald L. Phillips sold 5,601 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total value of $453,681.00. Following the completion of the sale, the executive vice president owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. This represents a 13.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sheila Talton sold 2,801 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the completion of the sale, the director directly owned 12,868 shares of the company’s stock, valued at $1,067,915.32. This represents a 17.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.56% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $90.49 on Friday. The company has a market capitalization of $43.34 billion, a P/E ratio of 24.33, a P/E/G ratio of 2.79 and a beta of 0.61. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $91.40. The company has a fifty day moving average of $77.94 and a 200-day moving average of $78.43.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The firm had revenue of $20.76 billion during the quarter, compared to analyst estimates of $20.80 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’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. As a group, equities research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

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.