Cibc World Market Inc. Has $11.04 Million Stake in Sysco Corporation $SYY

Cibc World Market Inc. lifted its stake in shares of Sysco Corporation (NYSE:SYY) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 149,796 shares of the company’s stock after buying an additional 13,691 shares during the quarter. Cibc World Market Inc.’s holdings in Sysco were worth $11,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of SYY. Intech Investment Management LLC grew its position in shares of Sysco by 53.1% during the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock worth $1,674,000 after buying an additional 7,742 shares during the period. Schnieders Capital Management LLC. grew 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 worth $781,000 after buying an additional 2,000 shares during the period. NewEdge Advisors LLC grew its position in shares of Sysco by 62.4% during the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after buying an additional 13,616 shares during the period. Sei Investments Co. grew its position in shares of Sysco by 14.2% during the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock worth $26,092,000 after buying an additional 42,903 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in shares of Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock worth $17,166,000 after buying an additional 1,710 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $76.36 on Friday. The company has a fifty day simple moving average of $74.45 and a 200 day simple moving average of $78.09. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The company has a market cap of $36.51 billion, a P/E ratio of 21.15, a PEG ratio of 3.12 and a beta of 0.65.

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

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, July 2nd. This is an increase from Sysco’s previous quarterly dividend of $0.54. Sysco’s payout ratio is 59.83%.

Insiders Place Their Bets

In related news, Director John M. Hinshaw acquired 13,304 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the purchase, the director owned 40,200 shares in the company, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SYY shares. Piper Sandler reduced their price objective on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings downgraded shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 30th. Sanford C. Bernstein reduced their price objective on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Guggenheim reduced their price target on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Sysco from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.15.

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.