Swedbank AB Lowers Position in Sysco Corporation $SYY

Key Points

• Swedbank AB reduced its Sysco stake by 5% in the fourth quarter, selling 28,360 shares and leaving it with 539,062 shares valued at about $39.7 million.
• Sysco reported mixed quarterly results, with EPS of $0.94 missing estimates by $0.01 and revenue of $20.52 billion slightly below expectations, though sales still rose 4.7% year over year.
• The company raised its dividend to $0.55 per share from $0.54, implying a $2.20 annual payout and a 2.9% yield.

Swedbank AB cut its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 539,062 shares of the company's stock after selling 28,360 shares during the quarter. Swedbank AB owned about 0.11% of Sysco worth $39,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SYY. Intech Investment Management LLC grew its holdings in shares of Sysco by 53.1% during the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company's stock worth $1,674,000 after purchasing an additional 7,742 shares during the period. Schnieders Capital Management LLC. grew its holdings in shares of Sysco by 24.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company's stock worth $781,000 after purchasing an additional 2,000 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Sysco by 62.4% during the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company's stock worth $2,685,000 after purchasing an additional 13,616 shares during the period. Sei Investments Co. grew its holdings in shares of Sysco by 14.2% during the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company's stock worth $26,092,000 after purchasing an additional 42,903 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company's stock worth $17,166,000 after acquiring an additional 1,710 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of NYSE SYY opened at $76.30 on Monday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The firm has a market capitalization of $36.49 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 3.12 and a beta of 0.66. The stock's 50-day simple moving average is $76.03 and its 200-day simple moving average is $78.06.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same period last year, the business posted $0.96 EPS. Sysco's revenue was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, equities research analysts forecast that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.55 per share. This is a boost from Sysco's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. Sysco's dividend payout ratio is 59.83%.

Analysts Set New Price Targets

SYY has been the topic of several research reports. BMO Capital Markets reissued an "outperform" rating on shares of Sysco in a research note on Wednesday, January 28th. JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 28th. Argus raised Sysco to a "hold" rating in a research note on Thursday, January 29th. Wall Street Zen downgraded shares of Sysco from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings downgraded shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 30th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and a consensus price target of $88.15.

Sysco Company Profile

Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.

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