Sysco Corporation $SYY Shares Sold by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. reduced its stake in Sysco Corporation by 9.3%, holding 55,953 shares worth approximately $4.2 million after selling 5,748 shares during the first quarter.
• Numerous institutional investors have increased their positions in Sysco, with Canoe Financial LP raising its stake by an astonishing 29,610.4% in the first quarter, now owning over 1.4 million shares valued at more than $107 million.
• Sysco announced a quarterly dividend of $0.54, set to be paid on October 24th, with an annualized yield of 2.7% and a payout ratio of 57.91%.

Northwestern Mutual Wealth Management Co. cut its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 9.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,953 shares of the company's stock after selling 5,748 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Sysco were worth $4,199,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. Boston Partners raised its stake in Sysco by 24.8% during the first quarter. Boston Partners now owns 15,199,828 shares of the company's stock worth $1,139,798,000 after purchasing an additional 3,015,714 shares during the period. Canoe Financial LP raised its stake in Sysco by 29,610.4% during the first 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 during the period. Nuveen LLC purchased a new position in Sysco during the first quarter worth about $85,341,000. Burgundy Asset Management Ltd. raised its stake in Sysco by 251.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,452,073 shares of the company's stock worth $111,026,000 after purchasing an additional 1,039,088 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Sysco by 9,792.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company's stock worth $74,978,000 after purchasing an additional 970,703 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

Sysco stock opened at $80.28 on Thursday. The company's 50 day simple moving average is $78.46 and its 200-day simple moving average is $74.56. The company has a market capitalization of $38.92 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 2.47 and a beta of 0.83. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.64. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21.

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

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be issued a $0.54 dividend. 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 payout ratio is 57.91%.

Wall Street Analyst Weigh In

SYY has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Truist Financial lifted their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. UBS Group set a $90.00 target price on shares of Sysco in a research note on Wednesday, July 30th. BMO Capital Markets reduced their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company set a $88.00 price target on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and an average price target of $85.69.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the transaction, the executive vice president 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 $2,449,035. This trade represents a 55.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,026 shares of company stock valued at $6,766,059 in the last 90 days. Company insiders own 0.54% of the company's stock.

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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