Sumitomo Mitsui Trust Group Inc. Decreases Stake in Sysco Corporation $SYY

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Sysco Corporation (NYSE:SYY) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,270,978 shares of the company’s stock after selling 47,142 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Sysco worth $104,652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYY. Norges Bank acquired a new position in Sysco during the second quarter worth about $493,686,000. Vanguard Group Inc. lifted its stake in Sysco by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock worth $4,748,230,000 after purchasing an additional 1,226,381 shares in the last quarter. Marshall Wace LLP lifted its stake in Sysco by 207.6% in the 2nd quarter. Marshall Wace LLP now owns 1,164,656 shares of the company’s stock worth $88,211,000 after purchasing an additional 785,995 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Sysco by 143.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,215,260 shares of the company’s stock worth $92,044,000 after purchasing an additional 715,663 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Sysco by 163.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 710,900 shares of the company’s stock valued at $58,536,000 after purchasing an additional 440,700 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Performance

Shares of Sysco stock opened at $76.06 on Wednesday. The firm has a market cap of $36.42 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61. The company has a quick ratio of 0.65, a current ratio of 1.15 and a debt-to-equity ratio of 5.54. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. The business’s fifty day simple moving average is $74.50 and its 200-day simple moving average is $77.70.

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

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, January 2nd. Sysco’s dividend payout ratio is currently 57.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SYY shares. Piper Sandler reduced their price objective on Sysco from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, December 12th. Sanford C. Bernstein started coverage on Sysco in a research note on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 target price for the company. Guggenheim lifted their price target on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Citigroup dropped their price objective on shares of Sysco from $82.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, January 7th. Finally, Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Sysco 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.