Sysco Corporation $SYY Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. cut its stake in shares of Sysco Corporation (NYSE:SYY) by 30.9% in the 3rd quarter, Holdings Channel reports. The firm owned 84,324 shares of the company’s stock after selling 37,747 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Sysco were worth $6,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Sysco during the 3rd quarter worth approximately $25,000. Harbor Capital Advisors Inc. raised its holdings in Sysco by 75.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock worth $26,000 after purchasing an additional 135 shares during the last quarter. Peterson Wealth Services boosted its stake in Sysco by 875.7% in the third quarter. Peterson Wealth Services now owns 361 shares of the company’s stock valued at $30,000 after acquiring an additional 324 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Sysco in the second quarter valued at about $31,000. Finally, Vermillion & White Wealth Management Group LLC boosted its stake in Sysco by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock worth $32,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY opened at $89.16 on Thursday. The firm has a market capitalization of $42.70 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.79 and a beta of 0.61. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $91.85. The firm’s 50-day moving average price is $80.42 and its 200-day moving average price is $78.96. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $20.76 billion during the quarter, compared to the consensus estimate of $20.80 billion. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 EPS. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SYY has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Guggenheim boosted their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Wells Fargo & Company raised their target price on shares of Sysco from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Piper Sandler raised their price objective on Sysco from $80.00 to $83.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Finally, Truist Financial boosted their target price on Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.31.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 2,801 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $82.99, for a total value of $232,454.99. Following the completion of the transaction, the director directly owned 12,868 shares of the company’s stock, valued at $1,067,915.32. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald L. Phillips sold 5,601 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total value of $453,681.00. Following the completion of the sale, the executive vice president directly owned 35,965 shares in the company, valued at approximately $2,913,165. This represents a 13.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.56% of the stock is owned by corporate insiders.

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.