Norinchukin Bank The Boosts Stock Position in Sysco Corporation $SYY

Key Points

• Norinchukin Bank increased its stake in Sysco Corporation by 16.0% during the first quarter, with holdings valued at $2,014,000 after purchasing an additional 3,703 shares.
• Several institutional investors, including Rialto Wealth Management and Golden State Wealth Management, have significantly altered their positions in Sysco, highlighting increased interest with a combined ownership of 83.41% by such investors.
• Sysco recently reported better-than-expected quarterly earnings of $1.48 EPS against expectations of $1.39, with revenues reaching $21.14 billion, indicating a 2.8% year-over-year growth.

Norinchukin Bank The lifted its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 16.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 26,843 shares of the company's stock after acquiring an additional 3,703 shares during the period. Norinchukin Bank The's holdings in Sysco were worth $2,014,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SYY. Boston Partners grew its stake in shares of Sysco by 24.8% during the first quarter. Boston Partners now owns 15,199,828 shares of the company's stock worth $1,139,798,000 after acquiring an additional 3,015,714 shares during the last quarter. Canoe Financial LP grew its stake in shares of Sysco by 29,610.4% during the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock worth $107,393,000 after acquiring an additional 1,426,332 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Sysco during the first quarter worth about $85,341,000. Burgundy Asset Management Ltd. grew its stake in shares of Sysco by 251.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock worth $111,026,000 after acquiring an additional 1,039,088 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Sysco by 9,792.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company's stock worth $74,978,000 after acquiring an additional 970,703 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SYY shares. UBS Group set a $90.00 price target on Sysco in a research note on Wednesday, July 30th. Truist Financial boosted their price target on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. JPMorgan Chase & Co. upped their target price on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Finally, Guggenheim upped their target price on Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.69.

Insider Buying and Selling

In other news, EVP Ronald L. Phillips sold 37,606 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the sale, the executive vice president directly owned 30,235 shares in the company, valued at $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the business's 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 sale, the executive vice president owned 56,304 shares of the company's stock, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,026 shares of company stock valued at $6,766,059 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Performance

NYSE SYY traded down $0.9530 during trading hours on Monday, reaching $79.3370. The stock had a trading volume of 2,369,429 shares, compared to its average volume of 3,415,004. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $82.64. The stock has a market cap of $38.46 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The stock has a fifty day moving average of $78.23 and a 200 day moving average of $74.49. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. During the same period in the previous year, the company posted $1.39 earnings per share. Sysco's revenue for the quarter was up 2.8% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. 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 declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. Sysco's payout ratio is presently 57.91%.

Sysco 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.