Sumitomo Mitsui Trust Group Inc. Grows Holdings in Sysco Corporation $SYY

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Sysco Corporation (NYSE:SYY) by 0.9% in the fourth quarter, HoldingsChannel reports. The fund owned 1,282,801 shares of the company’s stock after buying an additional 11,823 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Sysco were worth $94,530,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after acquiring an additional 246,542 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Sysco by 0.3% in the 3rd quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock worth $1,511,821,000 after acquiring an additional 46,040 shares during the last quarter. Wellington Management Group LLP lifted its holdings 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 acquiring an additional 4,595,819 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Sysco by 12.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,639,931 shares of the company’s stock worth $201,076,000 after acquiring an additional 283,706 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Sysco by 102.6% in the 3rd quarter. Marshall Wace LLP now owns 2,359,471 shares of the company’s stock worth $194,279,000 after acquiring an additional 1,194,815 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Up 0.9%

NYSE SYY opened at $73.50 on Tuesday. Sysco Corporation has a fifty-two week low of $68.00 and a fifty-two week high of $91.85. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30. The stock has a 50 day simple moving average of $83.29 and a two-hundred day simple moving average of $78.92. The stock has a market cap of $35.20 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 2.63 and a beta of 0.69.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. The business had revenue of $20.76 billion during the quarter, compared to analysts’ expectations of $20.80 billion. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, April 2nd. Sysco’s payout ratio is presently 58.06%.

Wall Street Analyst Weigh In

SYY has been the subject of a number of recent research reports. Weiss Ratings lowered shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 30th. Guggenheim lowered their price objective on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Argus raised shares of Sysco to a “hold” rating in a research note on Thursday, January 29th. Wall Street Zen upgraded shares of Sysco from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Truist Financial increased their price target on shares of Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $87.85.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 2,801 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $82.99, for a total transaction of $232,454.99. Following the transaction, the director directly owned 12,868 shares of the company’s stock, valued at approximately $1,067,915.32. The trade was a 17.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ronald L. Phillips sold 5,601 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total transaction of $453,681.00. Following the transaction, the executive vice president directly owned 35,965 shares in the company, valued at approximately $2,913,165. The trade was a 13.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.56% of the stock is currently owned by insiders.

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.