Swiss Life Asset Management Ltd Raises Stake in Sysco Corporation $SYY

Swiss Life Asset Management Ltd raised its holdings in shares of Sysco Corporation (NYSE:SYY) by 13.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,959 shares of the company’s stock after acquiring an additional 10,420 shares during the period. Swiss Life Asset Management Ltd’s holdings in Sysco were worth $7,078,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its position in Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after purchasing an additional 246,542 shares during the period. Capital Research Global Investors lifted its stake in Sysco by 0.3% in the third quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock worth $1,511,821,000 after purchasing an additional 46,040 shares during the last quarter. Norges Bank purchased a new stake in Sysco during the second quarter valued at about $493,686,000. Wellington Management Group LLP grew its stake in shares of Sysco by 3,977.1% during the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after buying an additional 4,595,819 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Sysco by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,131,931 shares of the company’s stock valued at $237,212,000 after buying an additional 27,693 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 5,601 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total value of $453,681.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sheila Talton sold 2,801 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the completion of the sale, the director directly owned 12,868 shares of the company’s stock, valued at approximately $1,067,915.32. This represents a 17.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SYY shares. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. JPMorgan Chase & Co. lifted their price target on Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 24th. Jefferies Financial Group increased their price objective on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Morgan Stanley cut their target price on shares of Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $90.31.

Sysco Stock Down 0.4%

NYSE SYY opened at $81.34 on Friday. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $91.85. The stock has a market capitalization of $38.95 billion, a PE ratio of 21.86, a PEG ratio of 2.53 and a beta of 0.58. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.30 and a quick ratio of 0.75. The business’s 50-day moving average is $84.40 and its 200 day moving average is $79.61.

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

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 2nd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. Sysco’s dividend payout ratio (DPR) is presently 58.06%.

About Sysco

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.