Sysco Corporation $SYY Shares Purchased by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB increased its holdings in Sysco Corporation by 66.8% in Q2, now owning approximately 264,581 shares valued at $20 million.
• Insider selling activity includes executive vice presidents disposing of 40,000 and 37,606 shares, representing significant decreases in their positions.
• Sysco's stock opened at $82.21, reporting quarterly earnings of $1.48 per share, exceeding analysts' expectations.

AMF Tjanstepension AB raised its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 66.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,581 shares of the company's stock after acquiring an additional 105,991 shares during the period. AMF Tjanstepension AB owned approximately 0.05% of Sysco worth $20,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SYY. Boyd Watterson Asset Management LLC OH lifted its holdings in Sysco by 106.4% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock worth $236,000 after purchasing an additional 1,622 shares during the period. Gradient Investments LLC raised its position in shares of Sysco by 9.2% during the 2nd quarter. Gradient Investments LLC now owns 189,169 shares of the company's stock worth $14,328,000 after buying an additional 15,906 shares in the last quarter. Beacon Financial Group lifted its stake in shares of Sysco by 55.5% in the 2nd quarter. Beacon Financial Group now owns 9,955 shares of the company's stock worth $754,000 after acquiring an additional 3,554 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sysco by 2.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock valued at $16,772,000 after acquiring an additional 4,932 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new position in shares of Sysco during the second quarter valued at approximately $730,000. Institutional investors own 83.41% of the company's stock.

Insider Activity

In other news, 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 value of $3,046,086.00. Following the transaction, the executive vice president owned 30,235 shares in the company, valued at $2,449,035. This represents a 55.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction 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 have sold 92,338 shares of company stock worth $7,439,331. Company insiders own 0.54% of the company's stock.

Sysco Stock Down 1.3%

SYY stock opened at $82.21 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 firm has a market capitalization of $39.85 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.58 and a beta of 0.82. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The company's 50 day simple moving average is $80.86 and its 200-day simple moving average is $76.09.

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, topping the consensus estimate of $1.39 by $0.09. The firm had revenue of $21.14 billion for the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities research analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders 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 yield of 2.6%. Sysco's dividend payout ratio (DPR) is presently 57.91%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Bank of America raised their target price on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Truist Financial upped their price target on shares of Sysco from $81.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

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