Swedbank AB Sells 64,213 Shares of Sysco Corporation $SYY

Swedbank AB lessened its stake in Sysco Corporation (NYSE:SYY) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 567,422 shares of the company’s stock after selling 64,213 shares during the quarter. Swedbank AB owned approximately 0.12% of Sysco worth $46,722,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SYY. Salvus Wealth Management LLC bought a new position in Sysco during the second quarter worth $329,000. Norges Bank acquired a new stake in shares of Sysco during the 2nd quarter worth about $493,686,000. Brighton Jones LLC lifted its stake in shares of Sysco by 4.3% during the 2nd quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock worth $6,842,000 after buying an additional 3,760 shares during the last quarter. Gradient Investments LLC boosted its holdings in shares of Sysco by 9.2% during the 2nd quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock worth $14,328,000 after buying an additional 15,906 shares during the period. Finally, Beacon Financial Group grew its stake in Sysco by 55.5% in the 2nd quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock valued at $754,000 after buying an additional 3,554 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

SYY opened at $74.45 on Thursday. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.65 and a current ratio of 1.15. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The firm has a market cap of $35.65 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61. The business’s fifty day moving average is $75.31 and its 200-day moving average is $77.78.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $21.15 billion during the quarter, compared to the consensus estimate of $21.03 billion. Sysco had a return on equity of 112.04% and a net margin of 2.21%.Sysco’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s dividend payout ratio (DPR) is 57.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SYY. Barclays boosted their price objective on Sysco from $82.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sysco in a report on Monday. Citigroup decreased their price objective on Sysco from $86.00 to $82.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Morgan Stanley set a $88.00 target price on Sysco in a report on Tuesday, October 21st. Finally, Sanford C. Bernstein initiated coverage on shares of Sysco in a research note on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus price target of $85.92.

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.