Swedbank AB Acquires 92,166 Shares of Sysco Corporation $SYY

Swedbank AB grew its holdings in Sysco Corporation (NYSE:SYY) by 17.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631,228 shares of the company’s stock after purchasing an additional 92,166 shares during the quarter. Swedbank AB owned about 0.13% of Sysco worth $45,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kiley Juergens Wealth Management LLC bought a new stake in Sysco in the first quarter worth approximately $379,000. Steigerwald Gordon & Koch Inc. boosted its holdings in shares of Sysco by 0.9% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 192,294 shares of the company’s stock worth $13,716,000 after buying an additional 1,730 shares in the last quarter. Raleigh Capital Management Inc. grew its position in shares of Sysco by 14.0% during the 1st quarter. Raleigh Capital Management Inc. now owns 4,283 shares of the company’s stock worth $305,000 after buying an additional 525 shares during the period. Lee Danner & Bass Inc. grew its position in shares of Sysco by 4.5% during the 1st quarter. Lee Danner & Bass Inc. now owns 189,200 shares of the company’s stock worth $13,496,000 after buying an additional 8,220 shares during the period. Finally, NBT Bank N A NY increased its stake in shares of Sysco by 57.4% in the 1st quarter. NBT Bank N A NY now owns 22,167 shares of the company’s stock valued at $1,581,000 after acquiring an additional 8,088 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Sanford C. Bernstein decreased their price target on shares of 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 dropped their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. UBS Group cut their price objective on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Finally, Citigroup raised their target price on Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $88.15.

Insider Buying and Selling at Sysco

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

Sysco Price Performance

Shares of SYY opened at $83.07 on Thursday. The business’s fifty day moving average is $77.37 and its 200 day moving average is $79.09. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The stock has a market cap of $39.72 billion, a P/E ratio of 23.01, a P/E/G ratio of 3.20 and a beta of 0.64.

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

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This is a boost from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 2.6%. Sysco’s payout ratio is presently 60.94%.

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.