Pictet Asset Management Holding SA Acquires 254,651 Shares of Sysco Corporation $SYY

Pictet Asset Management Holding SA lifted its holdings in shares of Sysco Corporation (NYSE:SYY) by 22.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,402,676 shares of the company’s stock after buying an additional 254,651 shares during the quarter. Pictet Asset Management Holding SA owned about 0.29% of Sysco worth $100,049,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SYY. Norges Bank acquired a new stake in Sysco during the 4th quarter worth $542,780,000. Wellington Management Group LLP lifted 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 valued at $387,935,000 after purchasing an additional 4,595,819 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Sysco by 45.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company’s stock valued at $416,472,000 after purchasing an additional 1,754,306 shares during the period. Marshall Wace LLP boosted its position 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 purchasing an additional 1,194,815 shares during the last quarter. Finally, Suvretta Capital Management LLC bought a new position in shares of Sysco in the 4th quarter worth $79,864,000. 83.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on SYY. Weiss Ratings lowered Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 30th. Sanford C. Bernstein lowered 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. Barclays cut their price target on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Tuesday, April 28th. Finally, Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.15.

Sysco Price Performance

NYSE SYY opened at $82.83 on Monday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. The stock has a market cap of $39.61 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 3.38 and a beta of 0.65. The business has a 50 day simple moving average of $76.01 and a 200 day simple moving average of $78.56. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $20.52 billion during 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 business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Analysts anticipate that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently announced 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. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, July 2nd. This is a boost from Sysco’s previous quarterly dividend of $0.54. Sysco’s dividend payout ratio (DPR) is currently 59.83%.

Insider Transactions at Sysco

In other news, Director John M. Hinshaw purchased 13,304 shares of the company’s stock in a transaction on 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 purchase, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. This trade represents a 49.46% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.56% of the company’s stock.

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.