Handelsbanken Fonder AB Raises Stock Holdings in Sysco Corporation $SYY

Handelsbanken Fonder AB boosted its holdings in Sysco Corporation (NYSE:SYY) by 3.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 294,187 shares of the company’s stock after acquiring an additional 9,979 shares during the period. Handelsbanken Fonder AB’s holdings in Sysco were worth $21,679,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Sysco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock worth $4,591,281,000 after buying an additional 814,270 shares during the last quarter. State Street Corp raised its position in 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 buying an additional 246,542 shares during the last quarter. Capital Research Global Investors grew its stake 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 purchasing an additional 46,040 shares during the period. Wellington Management Group LLP grew its stake in shares of Sysco by 3,977.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after purchasing an additional 4,595,819 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Sysco by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,639,931 shares of the company’s stock valued at $201,076,000 after purchasing an additional 283,706 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.3%

Shares of NYSE:SYY opened at $75.39 on Thursday. The stock has a 50 day moving average of $76.33 and a 200 day moving average of $78.01. The company has a market cap of $36.05 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. 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 Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

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

Sysco Increases Dividend

The business 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 dividend of $0.55 per share. This is a boost from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. Sysco’s dividend payout ratio is presently 59.83%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SYY. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Citigroup boosted their price target on Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. BMO Capital Markets restated an “outperform” rating on shares of Sysco in a research note on Wednesday, January 28th. Sanford C. Bernstein cut their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Finally, Piper Sandler cut their price target on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.15.

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.