Swiss National Bank Lowers Stake in Sysco Corporation $SYY

Swiss National Bank cut its position in Sysco Corporation (NYSE:SYY) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,397,300 shares of the company’s stock after selling 83,600 shares during the period. Swiss National Bank’s holdings in Sysco were worth $115,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Sysco during the 2nd quarter valued at approximately $493,686,000. Mondrian Investment Partners LTD bought a new position in shares of Sysco during the 3rd quarter valued at approximately $142,237,000. Vanguard Group Inc. boosted its position in shares of Sysco by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after acquiring an additional 1,226,381 shares during the last quarter. Marshall Wace LLP increased its position in Sysco by 207.6% in the second quarter. Marshall Wace LLP now owns 1,164,656 shares of the company’s stock worth $88,211,000 after purchasing an additional 785,995 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Sysco by 143.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,215,260 shares of the company’s stock valued at $92,044,000 after purchasing an additional 715,663 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

Shares of SYY stock opened at $84.30 on Wednesday. The stock has a 50 day moving average price of $82.75 and a 200 day moving average price of $79.40. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $91.85. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30. The firm has a market capitalization of $40.37 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.63 and a beta of 0.58.

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

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Thursday, April 2nd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, April 2nd. Sysco’s dividend payout ratio is currently 58.06%.

Insider Buying and Selling

In related news, Director Sheila Talton sold 2,801 shares of Sysco stock in a transaction dated Monday, February 2nd. The stock was 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 in the company, valued at $1,067,915.32. The trade was a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 5,601 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the sale, the executive vice president directly owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. This trade represents a 13.47% 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.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Guggenheim reaffirmed a “buy” rating on shares of Sysco in a report on Thursday, March 5th. Piper Sandler upped 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. Morgan Stanley cut their target price on Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Finally, UBS Group lifted their price objective on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.31.

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.