Sysco Corporation $SYY Stake Cut by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB reduced its stake in Sysco Corporation by 0.4%, retaining 3,093,485 shares valued at approximately $233 million.
• Sysco reported $1.48 EPS for its last quarter, exceeding analysts' expectations and indicating a year-over-year revenue growth of 2.8%.
• The company recently declared a $0.54 quarterly dividend, representing an annual yield of 2.7%, with the ex-dividend date set for October 3rd.

Nordea Investment Management AB reduced its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,093,485 shares of the company's stock after selling 13,975 shares during the period. Nordea Investment Management AB owned about 0.64% of Sysco worth $233,311,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Ellis Investment Partners LLC lifted its stake in Sysco by 4.9% in the 2nd quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company's stock worth $214,000 after acquiring an additional 133 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares in the last quarter. Trust Co of the South lifted its stake in Sysco by 3.0% in the 2nd quarter. Trust Co of the South now owns 4,849 shares of the company's stock worth $367,000 after acquiring an additional 142 shares in the last quarter. NorthRock Partners LLC raised its stake in shares of Sysco by 2.2% during the 2nd quarter. NorthRock Partners LLC now owns 6,514 shares of the company's stock worth $493,000 after purchasing an additional 142 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Sysco by 1.6% during the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company's stock worth $627,000 after purchasing an additional 143 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Up 1.4%

Shares of SYY stock opened at $79.92 on Friday. The stock's 50 day simple moving average is $80.73 and its 200 day simple moving average is $76.54. 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 Corporation has a twelve month low of $67.12 and a twelve month high of $83.47. The company has a market capitalization of $38.24 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 2.43 and a beta of 0.82.

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

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco's payout ratio is currently 57.91%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYY. Weiss Ratings downgraded Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Morgan Stanley raised their price target on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Bank of America raised their price target on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wall Street Zen raised Sysco from a "hold" rating to a "buy" rating in a research note on Saturday, October 11th. Finally, Truist Financial raised their price target on Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $86.46.

Insider Activity at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of Sysco stock in a transaction that occurred on 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 directly owned 30,235 shares of the company's stock, valued at $2,449,035. The trade was a 55.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of Sysco stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 56,304 shares in the company, 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. Over the last ninety days, insiders sold 92,338 shares of company stock worth $7,439,331. Company insiders own 0.56% 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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