Swedbank AB Buys 92,166 Shares of Sysco Corporation $SYY

Swedbank AB grew its position in shares of Sysco Corporation (NYSE:SYY) by 17.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 631,228 shares of the company’s stock after acquiring an additional 92,166 shares during the quarter. Swedbank AB’s holdings in Sysco were worth $45,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Sysco during the 4th quarter worth approximately $542,780,000. Wellington Management Group LLP boosted its stake in shares of Sysco by 3,977.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after buying an additional 4,595,819 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Sysco by 45.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company’s stock valued at $416,472,000 after acquiring an additional 1,754,306 shares in the last quarter. Marshall Wace LLP increased its position in shares of Sysco by 102.6% during the third quarter. Marshall Wace LLP now owns 2,359,471 shares of the company’s stock valued at $194,279,000 after acquiring an additional 1,194,815 shares during the last quarter. Finally, Suvretta Capital Management LLC purchased a new stake in shares of Sysco during the fourth quarter valued at approximately $79,864,000. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on SYY shares. UBS Group cut their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler reduced their price target on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft downgraded shares of 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. Finally, Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $88.15.

Sysco Stock Performance

NYSE:SYY opened at $83.07 on Thursday. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. The business has a fifty day simple moving average of $77.37 and a two-hundred day simple moving average of $79.09. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The company has a market capitalization of $39.72 billion, a P/E ratio of 23.01, a P/E/G ratio of 3.20 and a beta of 0.64.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The firm had revenue of $20.52 billion for the quarter, compared to analysts’ expectations of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, analysts expect that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be paid a $0.55 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. This is an increase from Sysco’s previous quarterly dividend of $0.54. Sysco’s dividend payout ratio (DPR) is presently 60.94%.

Insider Buying and Selling

In other Sysco news, Director John M. Hinshaw acquired 13,304 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director directly owned 40,200 shares in the company, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is currently 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.