Public Sector Pension Investment Board Increases Position in Sysco Corporation $SYY

Key Points

• The Public Sector Pension Investment Board increased its stake in Sysco Corporation by 7.8%, now owning 66,195 shares worth approximately $4.97 million.
• Sysco reported $1.48 earnings per share (EPS) for the last quarter, exceeding the consensus estimate, and achieved revenue of $21.14 billion.
• Analysts have a consensus rating of "Moderate Buy" for Sysco, with an average price target of $85.69 after several firms raised their target prices recently.

Public Sector Pension Investment Board boosted its position in Sysco Corporation (NYSE:SYY - Free Report) by 7.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,195 shares of the company's stock after purchasing an additional 4,813 shares during the quarter. Public Sector Pension Investment Board's holdings in Sysco were worth $4,967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital Research Global Investors increased its position in Sysco by 27.3% in the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after buying an additional 1,928,002 shares during the period. Canoe Financial LP increased its stake in Sysco by 29,610.4% in the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock worth $107,393,000 after purchasing an additional 1,426,332 shares in the last quarter. Nuveen LLC acquired a new stake in Sysco during the 1st quarter worth about $85,341,000. Burgundy Asset Management Ltd. lifted its holdings in shares of Sysco by 251.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock valued at $111,026,000 after buying an additional 1,039,088 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Sysco by 9,792.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company's stock valued at $74,978,000 after buying 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

SYY has been the topic of a number of research reports. Barclays boosted their price objective on Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Truist Financial increased their price target on Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. BMO Capital Markets lowered their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley raised their price objective on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Finally, UBS Group set a $90.00 price objective on Sysco in a research report on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.69.

Sysco Trading Down 0.5%

Shares of SYY traded down $0.3790 during trading hours on Friday, hitting $79.3410. The company had a trading volume of 486,245 shares, compared to its average volume of 3,306,939. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The firm has a market cap of $38.46 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.51 and a beta of 0.83. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $82.64. The stock's 50 day moving average price is $78.02 and its 200 day moving average price is $74.32.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The business's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, research analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

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

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 37,606 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was 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 approximately $2,449,035. This trade represents a 55.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,026 shares of company stock valued at $6,766,059. 0.54% of the stock is owned by insiders.

About Sysco

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.