KLP Kapitalforvaltning AS Acquires 24,500 Shares of Sysco Corporation $SYY

KLP Kapitalforvaltning AS boosted its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 448,600 shares of the company's stock after acquiring an additional 24,500 shares during the quarter. KLP Kapitalforvaltning AS owned 0.09% of Sysco worth $33,977,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SYY. Farther Finance Advisors LLC lifted its position in Sysco by 30.9% in the 1st quarter. Farther Finance Advisors LLC now owns 5,502 shares of the company's stock valued at $415,000 after acquiring an additional 1,298 shares in the last quarter. Yousif Capital Management LLC lifted its position in Sysco by 0.3% in the 1st quarter. Yousif Capital Management LLC now owns 170,724 shares of the company's stock valued at $12,811,000 after acquiring an additional 436 shares in the last quarter. Simplicity Wealth LLC lifted its position in Sysco by 50.1% in the 1st quarter. Simplicity Wealth LLC now owns 16,207 shares of the company's stock valued at $1,216,000 after acquiring an additional 5,412 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services lifted its position in Sysco by 25.2% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 4,927 shares of the company's stock valued at $370,000 after acquiring an additional 993 shares in the last quarter. Finally, Curated Wealth Partners LLC lifted its position in Sysco by 3.7% in the 1st quarter. Curated Wealth Partners LLC now owns 16,659 shares of the company's stock valued at $1,250,000 after acquiring an additional 599 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the transaction, the executive vice president directly owned 56,304 shares in the company, valued at approximately $4,504,320. The trade was a 41.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $3,046,086.00. Following the completion of the transaction, the executive vice president owned 30,235 shares of the company's stock, valued at $2,449,035. This represents a 55.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,338 shares of company stock valued at $7,439,331 over the last quarter. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SYY has been the subject of several analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Sysco in a research note on Saturday, September 27th. UBS Group set a $90.00 price objective on shares of Sysco in a research note on Wednesday, July 30th. Bank of America increased their price objective on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Guggenheim increased their price objective on shares of Sysco from $87.00 to $89.00 and gave the company a "buy" rating in a research note on Monday. Finally, Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $85.85.

Sysco Trading Down 1.2%

Shares of SYY stock opened at $79.83 on Wednesday. The company has a 50 day moving average of $80.90 and a 200-day moving average of $76.25. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The firm has a market cap of $38.20 billion, a P/E ratio of 21.40, a PEG ratio of 2.50 and a beta of 0.82.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same quarter last year, the business posted $1.39 EPS. Sysco's quarterly revenue was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Sell-side analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. Sysco's dividend payout ratio (DPR) is presently 57.91%.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

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