Arbejdsmarkedets Tillaegspension Reduces Stock Position in Sysco Corporation $SYY

Key Points

• Arbejdsmarkedets Tillaegspension trimmed its Sysco stake by 4.0% in the first quarter, selling 12,708 shares and ending with 307,707 shares worth about $21.95 million.
• Sysco reported fiscal Q4 results that slightly missed Wall Street expectations on both earnings and revenue, though quarterly revenue still rose 4.7% year over year.
• The company also raised its quarterly dividend to $0.55 per share from $0.54, bringing the annualized payout to $2.20 and a yield of about 2.6%.

Arbejdsmarkedets Tillaegspension lessened its stake in Sysco Corporation (NYSE:SYY - Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 307,707 shares of the company's stock after selling 12,708 shares during the period. Arbejdsmarkedets Tillaegspension owned approximately 0.06% of Sysco worth $21,949,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Sysco during the 4th quarter valued at about $542,780,000. Wellington Management Group LLP grew its position in shares of Sysco by 3,977.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company's stock valued at $387,935,000 after acquiring an additional 4,595,819 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Sysco by 45.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company's stock valued at $416,472,000 after acquiring an additional 1,754,306 shares during the period. Marshall Wace LLP increased its stake in shares of Sysco by 102.6% in the 3rd quarter. Marshall Wace LLP now owns 2,359,471 shares of the company's stock worth $194,279,000 after purchasing an additional 1,194,815 shares in the last quarter. Finally, Suvretta Capital Management LLC bought a new position in Sysco in the 4th quarter worth $79,864,000. 83.41% of the stock is owned by institutional investors.

Insider Activity at Sysco

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director owned 40,200 shares in the company, valued at $3,021,834. This trade represents a 49.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYY shares. Barclays cut their price target on Sysco from $92.00 to $86.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Melius Research cut Sysco from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Guggenheim cut their price objective on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, Sanford C. Bernstein decreased their target price on shares of Sysco from $90.00 to $85.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $88.15.

Sysco Trading Down 0.4%

Shares of Sysco stock opened at $83.46 on Tuesday. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The business has a 50-day moving average price of $77.91 and a 200-day moving average price of $79.28. The firm has a market cap of $39.91 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 3.17 and a beta of 0.64.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). The firm had revenue of $20.52 billion during 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%.Sysco's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Equities research analysts anticipate that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Sysco's previous quarterly dividend of $0.54. Sysco's dividend payout ratio is currently 60.94%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.