Danske Bank A S Acquires New Position in Sysco Corporation $SYY

Danske Bank A S acquired a new stake in Sysco Corporation (NYSE:SYY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 481,009 shares of the company’s stock, valued at approximately $39,606,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Gateway Investment Advisers LLC boosted its stake in shares of Sysco by 594.8% in the third quarter. Gateway Investment Advisers LLC now owns 85,622 shares of the company’s stock valued at $7,050,000 after buying an additional 73,298 shares in the last quarter. Norges Bank acquired a new position in Sysco during the second quarter worth $493,686,000. AE Wealth Management LLC raised its position in Sysco by 320.9% in the third quarter. AE Wealth Management LLC now owns 79,589 shares of the company’s stock worth $6,553,000 after acquiring an additional 60,680 shares in the last quarter. Krilogy Financial LLC lifted its holdings in Sysco by 65.6% in the third quarter. Krilogy Financial LLC now owns 42,435 shares of the company’s stock valued at $3,494,000 after acquiring an additional 16,807 shares during the period. Finally, Accurate Wealth Management LLC acquired a new stake in Sysco in the third quarter valued at $2,497,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYY. JPMorgan Chase & Co. upped their price target on shares of Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Sysco in a research note on Wednesday, January 28th. Citigroup boosted their price objective on shares of Sysco from $81.00 to $88.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Morgan Stanley dropped their target price on shares of Sysco from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Finally, Piper Sandler lifted their price target on shares of Sysco from $80.00 to $83.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.31.

Sysco Stock Performance

Shares of SYY opened at $82.54 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45. The stock has a market cap of $39.53 billion, a P/E ratio of 22.19, a PEG ratio of 2.62 and a beta of 0.58. The company has a 50-day moving average of $84.11 and a two-hundred day moving average of $79.60. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $91.85.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The business had revenue of $20.76 billion for the quarter, compared to analyst estimates of $20.80 billion. During the same period in the prior year, the business earned $0.93 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. As a group, research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 2nd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. Sysco’s dividend payout ratio is presently 58.06%.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 5,601 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the transaction, the executive vice president owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. This trade represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sheila Talton sold 2,801 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total value of $232,454.99. Following the completion of the transaction, the director directly owned 12,868 shares of the company’s stock, valued at approximately $1,067,915.32. This trade represents a 17.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.56% of the stock is currently owned by corporate insiders.

Sysco 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.