Pictet Asset Management Holding SA Acquires 254,651 Shares of Sysco Corporation $SYY

Pictet Asset Management Holding SA boosted its holdings in Sysco Corporation (NYSE:SYY) by 22.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,402,676 shares of the company’s stock after purchasing an additional 254,651 shares during the period. Pictet Asset Management Holding SA’s holdings in Sysco were worth $100,049,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lloyd Advisory Services LLC. acquired a new position in shares of Sysco during the 4th quarter worth about $25,000. Motiv8 Investments LLC acquired a new stake in shares of Sysco in the fourth quarter valued at about $25,000. Torren Management LLC bought a new stake in Sysco during the fourth quarter worth about $27,000. Bard Associates Inc. bought a new stake in Sysco during the fourth quarter worth about $27,000. Finally, Elyxium Wealth LLC acquired a new position in Sysco during the fourth quarter valued at approximately $28,000. 83.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director John M. Hinshaw purchased 13,304 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the purchase, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SYY. Weiss Ratings lowered Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 30th. Sanford C. Bernstein cut their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. UBS Group lowered their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Piper Sandler cut their price target on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Finally, Citigroup boosted their price objective on shares of Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.15.

Sysco Stock Up 0.0%

SYY opened at $82.83 on Monday. The stock’s fifty day simple moving average is $76.01 and its 200 day simple moving average is $78.56. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The stock has a market cap of $39.61 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 EPS 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 company had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.56 billion. During the same period last year, the firm earned $0.96 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, research analysts expect that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, July 2nd. This is a positive change from Sysco’s previous quarterly dividend of $0.54. Sysco’s payout ratio is presently 59.83%.

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.