Sumitomo Life Insurance Co. Sells 37,747 Shares of Sysco Corporation $SYY

Sumitomo Life Insurance Co. trimmed its stake in Sysco Corporation (NYSE:SYY) by 30.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Intech Investment Management LLC increased its stake in shares of Sysco by 53.1% in the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock worth $1,674,000 after purchasing an additional 7,742 shares in the last quarter. Schnieders Capital Management LLC. raised its position in shares of Sysco by 24.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after buying an additional 2,000 shares in the last quarter. Wealthfront Advisers LLC lifted its position in Sysco by 22.2% in the second quarter. Wealthfront Advisers LLC now owns 81,747 shares of the company’s stock worth $6,192,000 after buying an additional 14,834 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Sysco by 8.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,517,244 shares of the company’s stock valued at $114,916,000 after buying an additional 118,379 shares during the period. Finally, Transcend Capital Advisors LLC increased its stake in Sysco by 2.4% in the second quarter. Transcend Capital Advisors LLC now owns 6,419 shares of the company’s stock worth $486,000 after purchasing an additional 148 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 2,801 shares of Sysco stock in a transaction that occurred on 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 sale, the director directly owned 12,868 shares of the company’s stock, valued at approximately $1,067,915.32. The trade was a 17.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ronald L. Phillips sold 5,601 shares of the company’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 transaction of $453,681.00. Following the transaction, the executive vice president directly owned 35,965 shares of the company’s stock, valued at $2,913,165. This trade represents a 13.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Truist Financial boosted their target price on Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Citigroup increased their price target on shares of Sysco from $81.00 to $88.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Finally, Barclays boosted their target price on shares of Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.31.

Sysco Trading Down 0.8%

Shares of NYSE:SYY opened at $89.16 on Thursday. The company’s 50 day moving average is $80.42 and its two-hundred day moving average is $78.96. The company has a market cap of $42.70 billion, a PE ratio of 23.97, a P/E/G ratio of 2.79 and a beta of 0.61. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $91.85. 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 issued its quarterly earnings data on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $20.76 billion for the quarter, compared to analyst estimates of $20.80 billion. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 earnings per share. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Equities analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

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.