Nordea Investment Management AB Sells 13,975 Shares of Sysco Corporation $SYY

Nordea Investment Management AB lessened its position in shares of Sysco Corporation (NYSE:SYY) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,093,485 shares of the company’s stock after selling 13,975 shares during the quarter. Nordea Investment Management AB’s holdings in Sysco were worth $233,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Chung Wu Investment Group LLC acquired a new stake in shares of Sysco during the 2nd quarter worth approximately $30,000. Golden State Wealth Management LLC grew its holdings in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Sysco during the 1st quarter worth approximately $33,000. Cheviot Value Management LLC acquired a new stake in shares of Sysco during the 1st quarter worth approximately $34,000. Finally, 1248 Management LLC acquired a new stake in shares of Sysco during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SYY shares. Barclays lifted their price objective on Sysco from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Weiss Ratings lowered Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Truist Financial boosted their price target on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Guggenheim boosted their price target on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Wells Fargo & Company set a $88.00 price target on Sysco and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.46.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares in the company, valued at $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ronald L. Phillips sold 37,606 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $3,046,086.00. Following the transaction, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. This trade represents a 55.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,338 shares of company stock valued at $7,439,331. Corporate insiders own 0.56% of the company’s stock.

Sysco Trading Up 1.4%

Shares of SYY opened at $79.92 on Friday. The stock has a fifty day moving average price of $80.73 and a two-hundred day moving average price of $76.54. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The company has a market cap of $38.24 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 2.43 and a beta of 0.82.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The firm had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a $0.54 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 2.7%. Sysco’s payout ratio is presently 57.91%.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.