Norges Bank Makes New Investment in Sysco Corporation $SYY

Norges Bank purchased a new position in shares of Sysco Corporation (NYSE:SYY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,365,716 shares of the company’s stock, valued at approximately $542,780,000.

Other large investors also recently bought and sold shares of the company. Montag A & Associates Inc. increased its position in shares of Sysco by 1.4% in the 4th quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after purchasing an additional 123 shares during the last quarter. United Community Bank increased its position in shares of Sysco by 11.4% in the 4th quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after purchasing an additional 125 shares during the last quarter. Octavia Wealth Advisors LLC increased its position in shares of Sysco by 4.6% in the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock valued at $237,000 after purchasing an additional 141 shares during the last quarter. Diversify Wealth Management LLC increased its position in shares of Sysco by 1.6% in the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after purchasing an additional 143 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Sysco by 11.1% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,469 shares of the company’s stock valued at $108,000 after purchasing an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group dropped their target price 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. Barclays lowered their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft cut shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research note on Tuesday, April 28th. Guggenheim reduced their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company raised their target price on shares of Sysco from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.15.

Sysco Stock Performance

Sysco stock opened at $75.98 on Monday. The firm has a market capitalization of $36.33 billion, a P/E ratio of 21.05, a PEG ratio of 3.10 and a beta of 0.65. The stock has a fifty day moving average price of $75.17 and a 200 day moving average price of $78.13. Sysco Corporation has a 52 week low of $68.19 and a 52 week 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.

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

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 annualized dividend and a yield of 2.9%. This is a boost from Sysco’s previous quarterly dividend of $0.54. Sysco’s dividend payout ratio (DPR) is presently 59.83%.

Insider Transactions at Sysco

In other Sysco news, Director John M. Hinshaw acquired 13,304 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the acquisition, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by corporate insiders.

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.