Canoe Financial LP Sells 50,167 Shares of Sysco Corporation $SYY

Canoe Financial LP lessened its holdings in Sysco Corporation (NYSE:SYY) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,427,181 shares of the company’s stock after selling 50,167 shares during the quarter. Sysco accounts for approximately 1.7% of Canoe Financial LP’s holdings, making the stock its 29th biggest holding. Canoe Financial LP’s holdings in Sysco were worth $117,514,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Sysco by 2.0% in the second quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock valued at $4,748,230,000 after acquiring an additional 1,226,381 shares during the period. Geode Capital Management LLC grew its stake in shares of Sysco by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 12,551,872 shares of the company’s stock valued at $946,694,000 after purchasing an additional 183,179 shares during the period. Norges Bank acquired a new position in shares of Sysco in the 2nd quarter worth approximately $493,686,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Sysco by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company’s stock worth $381,747,000 after buying an additional 391,614 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Sysco by 14.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,956,141 shares of the company’s stock valued at $296,869,000 after buying an additional 492,865 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SYY. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a research note on Monday. Morgan Stanley set a $88.00 target price on shares of Sysco in a report on Tuesday, October 21st. Barclays lifted their price target on shares of Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Piper Sandler decreased their price objective on shares of Sysco from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, December 12th. Finally, Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $85.92.

Sysco Stock Up 0.6%

NYSE:SYY opened at $74.45 on Friday. The company has a market cap of $35.65 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 2.44 and a beta of 0.61. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.65 and a current ratio of 1.15. The stock’s fifty day moving average price is $75.22 and its two-hundred day moving average price is $77.76. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The company had revenue of $21.15 billion during the quarter, compared to the consensus estimate of $21.03 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s dividend payout ratio (DPR) is 57.91%.

About Sysco

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.