Sumitomo Mitsui Trust Group Inc. Has $87.88 Million Stock Holdings in Sysco Corporation $SYY

Sumitomo Mitsui Trust Group Inc. trimmed its position in Sysco Corporation (NYSE:SYY) by 4.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,232,039 shares of the company’s stock after selling 50,762 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Sysco were worth $87,881,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, Director John M. Hinshaw acquired 13,304 shares of Sysco stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on SYY. Guggenheim decreased their price target on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Sanford C. Bernstein dropped their price objective on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Barclays reduced their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $88.15.

Sysco Stock Up 2.2%

Sysco stock traded up $1.76 during trading on Friday, hitting $83.79. 2,635,928 shares of the company were exchanged, compared to its average volume of 3,522,134. The company has a market capitalization of $40.07 billion, a P/E ratio of 23.21, a PEG ratio of 3.10 and a beta of 0.64. The business’s 50 day moving average is $77.74 and its 200 day moving average is $79.18. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. 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 issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.56 billion. During the same quarter last year, the business posted $0.96 earnings per share. Sysco’s revenue was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Analysts predict that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The company also recently declared 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 yield of 2.6%. This is a boost from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. Sysco’s dividend payout ratio is presently 60.94%.

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.