Nykredit A S Makes New Investment in Sysco Corporation $SYY

Key Points

• Nykredit A/S acquired 136,259 Sysco shares worth approximately $11.4 million during the second quarter, while institutional investors collectively own 83.41% of the company.
• Sysco exceeded quarterly expectations with $1.53 in EPS and $22.12 billion in revenue, up 4.7% year over year. Analysts have a “Moderate Buy” consensus rating and an average price target of $89.50.
• Sysco declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 2.8% yield; the dividend is payable October 23 to shareholders of record October 2.

Nykredit A S acquired a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 136,259 shares of the company's stock, valued at approximately $11,389,000.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Sysco during the second quarter valued at $3,596,356,000. Geode Capital Management LLC raised its position in shares of Sysco by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock worth $934,391,000 after acquiring an additional 131,659 shares in the last quarter. Norges Bank acquired a new position in shares of Sysco in the 4th quarter valued at about $542,780,000. Bank of America Corp DE acquired a new position in shares of Sysco in the 2nd quarter valued at about $482,589,000. Finally, Goldman Sachs Group Inc. boosted 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 purchasing an additional 1,754,306 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 0.1%

Shares of NYSE:SYY opened at $79.13 on Monday. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The business's 50 day simple moving average is $82.52 and its two-hundred day simple moving average is $79.62. The firm has a market cap of $37.95 billion, a P/E ratio of 21.62, a PEG ratio of 2.72 and a beta of 0.63.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The company's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. As a group, research analysts forecast that Sysco Corporation will post 5.07 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be paid a $0.55 dividend. The ex-dividend date is Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.8%. Sysco's dividend payout ratio (DPR) is 60.11%.

Analysts Set New Price Targets

SYY has been the subject of several recent analyst reports. Piper Sandler raised their target price on Sysco from $77.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Melius Research lowered Sysco from a "hold" rating to a "sell" rating in a research note on Tuesday, July 7th. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a report on Sunday, September 6th. UBS Group raised their price objective on shares of Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Sysco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 10th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and an average target price of $89.50.

Insider Activity at Sysco

In other news, EVP Ronald Phillips sold 960 shares of Sysco stock in a transaction on Friday, September 11th. The stock was sold at an average price of $83.00, for a total transaction of $79,680.00. Following the sale, the executive vice president directly owned 49,852 shares in the company, valued at $4,137,716. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 15,525 shares of company stock worth $1,299,736 over the last three months. Company insiders own 0.56% of the company's stock.

Sysco Company Profile

Sysco Corporation NYSE: SYY is a global foodservice distributor that supplies restaurants, health care and educational institutions, hospitality businesses, government facilities, and other customers. Its product portfolio includes fresh and frozen foods, meat and seafood, dairy products, produce, pantry staples, beverages, and specialty items, along with nonfood products such as kitchen equipment, cleaning supplies, and disposable serving products.

In addition to distribution, Sysco provides services designed to support foodservice operators, including menu planning, culinary consulting, merchandising assistance, supply-chain solutions, and business-management resources.

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY - Free Report).

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.