CIBC Asset Management Inc Acquires 168,293 Shares of Sysco Corporation $SYY

CIBC Asset Management Inc grew its holdings in Sysco Corporation (NYSE:SYY) by 206.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,685 shares of the company’s stock after purchasing an additional 168,293 shares during the period. CIBC Asset Management Inc’s holdings in Sysco were worth $18,399,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Sysco by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after buying an additional 814,270 shares during the last quarter. State Street Corp lifted its stake in Sysco by 0.9% during the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after acquiring an additional 246,542 shares during the period. Capital Research Global Investors boosted its holdings in shares of Sysco by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock valued at $1,511,821,000 after acquiring an additional 46,040 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sysco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock valued at $934,391,000 after acquiring an additional 131,659 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Sysco in the fourth quarter worth approximately $542,780,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on SYY shares. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Guggenheim cut their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research note on Tuesday, April 28th. UBS Group lowered their price target on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Finally, Weiss Ratings lowered Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 30th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $88.15.

Insider Activity at Sysco

In related news, Director John M. Hinshaw acquired 13,304 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is owned by company insiders.

Sysco Trading Down 1.2%

Shares of Sysco stock opened at $74.31 on Friday. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company’s fifty day simple moving average is $74.58 and its 200-day simple moving average is $78.11. 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 stock has a market capitalization of $35.53 billion, a PE ratio of 20.58, a P/E/G ratio of 3.07 and a beta of 0.65.

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

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be given a $0.55 dividend. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. Sysco’s dividend payout ratio (DPR) is currently 59.83%.

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.