Sumitomo Mitsui Trust Group Inc. Grows Stock Position in Sysco Corporation $SYY

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in Sysco Corporation by 10.1% in Q2, owning approximately 1,318,120 shares valued at $99.83 million.
• Sysco reported $1.48 earnings per share (EPS), exceeding estimates, and had a quarterly revenue of $21.14 billion.
• The company recently announced a quarterly dividend of $0.54 per share, with a yield of 2.8% and a payout ratio of 57.91%.

Sumitomo Mitsui Trust Group Inc. increased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 10.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,318,120 shares of the company's stock after acquiring an additional 121,172 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Sysco worth $99,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ellis Investment Partners LLC lifted its stake in shares of Sysco by 4.9% in the 2nd quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company's stock valued at $214,000 after purchasing an additional 133 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after buying an additional 140 shares during the last quarter. Stephens Inc. AR boosted its stake in Sysco by 0.6% during the second quarter. Stephens Inc. AR now owns 25,040 shares of the company's stock worth $1,897,000 after buying an additional 140 shares during the period. Trust Co of the South increased its position in shares of Sysco by 3.0% during the second quarter. Trust Co of the South now owns 4,849 shares of the company's stock valued at $367,000 after acquiring an additional 142 shares during the last quarter. Finally, NorthRock Partners LLC raised its stake in shares of Sysco by 2.2% in the 2nd quarter. NorthRock Partners LLC now owns 6,514 shares of the company's stock valued at $493,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

Shares of NYSE SYY opened at $77.30 on Friday. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The company has a market cap of $36.99 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.39 and a beta of 0.82. The stock's 50-day moving average is $80.53 and its two-hundred day moving average is $76.84. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $83.47.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion during 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 quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 3rd were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.8%. Sysco's dividend payout ratio (DPR) is presently 57.91%.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 961 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the transaction, the executive vice president owned 41,501 shares in the company, valued at approximately $3,361,581. This represents a 2.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 14,732 shares of company stock worth $1,193,245. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SYY has been the subject of several research reports. Truist Financial lifted their target price on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Bank of America lifted their price objective on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Sanford C. Bernstein initiated coverage on Sysco in a research note on Wednesday. They set a "market perform" rating and a $83.00 target price on the stock. Wells Fargo & Company set a $88.00 target price on Sysco and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Barclays boosted their price target on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and an average price target of $87.00.

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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