SEB Asset Management AB Acquires Shares of 93,395 Sysco Corporation $SYY

SEB Asset Management AB bought a new position in shares of Sysco Corporation (NYSE:SYY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 93,395 shares of the company’s stock, valued at approximately $6,662,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Sysco by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after purchasing an additional 814,270 shares during the period. State Street Corp raised its stake in Sysco by 0.9% during the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after acquiring an additional 246,542 shares during the last quarter. Geode Capital Management LLC lifted its position in Sysco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after acquiring an additional 131,659 shares during the period. Norges Bank purchased a new position in shares of Sysco in the 4th quarter valued at approximately $542,780,000. Finally, Morgan Stanley grew its stake in shares of Sysco by 9.0% in the 4th quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock valued at $446,444,000 after purchasing an additional 500,881 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of NYSE:SYY opened at $81.21 on Wednesday. The firm has a market capitalization of $38.83 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 3.18 and a beta of 0.64. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. The business’s 50 day simple moving average is $78.95 and its 200-day simple moving average is $79.59. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The firm had revenue of $20.52 billion during the quarter, compared to analysts’ expectations of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, equities analysts forecast that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John M. Hinshaw purchased 13,304 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was acquired 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 represents a 49.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SYY shares. Morgan Stanley upped their price target on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Guggenheim lowered 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. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Barclays cut their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $88.00.

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.