Swedbank AB Buys 28,234 Shares of Sysco Corporation $SYY

Key Points

• Swedbank AB increased its stake in Sysco Corporation by 4.7%, owning approximately 631,635 shares valued at $47.8 million as of the latest SEC filing.
• Sysco reported $1.48 EPS for the most recent quarter, surpassing analysts' expectations of $1.39, with revenue of $21.14 billion, reflecting a 2.8% year-over-year increase.
• The company declared a quarterly dividend of $0.54, translating to an annualized yield of 2.6%, to be paid on October 24th.

Swedbank AB lifted its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 631,635 shares of the company's stock after purchasing an additional 28,234 shares during the quarter. Swedbank AB owned about 0.13% of Sysco worth $47,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. NorthCrest Asset Manangement LLC increased its position in Sysco by 4.9% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after acquiring an additional 139 shares during the period. Golden State Wealth Management LLC increased its position in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after acquiring an additional 140 shares during the period. Trust Co of the South increased its position in Sysco by 3.0% in the 2nd 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 period. Chicago Partners Investment Group LLC increased its position in Sysco by 1.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock valued at $627,000 after acquiring an additional 143 shares during the period. Finally, One Wealth Advisors LLC increased its position in Sysco by 3.3% in the 1st quarter. One Wealth Advisors LLC now owns 4,698 shares of the company's stock valued at $353,000 after acquiring an additional 151 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 961 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the sale, the executive vice president owned 41,501 shares of the company's stock, valued at $3,361,581. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the sale, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,338 shares of company stock valued at $7,439,331. 0.54% of the stock is currently owned by insiders.

Sysco Price Performance

Shares of SYY traded up $0.53 during trading hours on Tuesday, hitting $81.90. 170,281 shares of the company were exchanged, compared to its average volume of 3,266,011. The company has a market capitalization of $39.70 billion, a PE ratio of 21.94, a PEG ratio of 2.55 and a beta of 0.80. 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 firm has a fifty day simple moving average of $80.26 and a 200-day simple moving average of $75.62. Sysco Corporation has a one year low of $67.12 and a one year high of $83.24.

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

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is 57.91%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYY. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Bank of America boosted their price objective on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Truist Financial boosted their price objective on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Barclays boosted their price objective on Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Guggenheim boosted their price objective on Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $85.69.

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.