Sysco Corporation $SYY Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Sysco Corporation (NYSE:SYY) by 48.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 423,710 shares of the company’s stock after acquiring an additional 137,993 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Sysco were worth $31,223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SYY. Intech Investment Management LLC raised its stake in shares of Sysco by 53.1% during the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock worth $1,674,000 after buying an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in shares of Sysco by 24.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after buying an additional 2,000 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Sysco by 62.4% during the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after buying an additional 13,616 shares during the last quarter. Sei Investments Co. raised its stake in shares of Sysco by 14.2% during the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock worth $26,092,000 after buying an additional 42,903 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock worth $17,166,000 after purchasing an additional 1,710 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the subject of a number of recent research reports. Barclays dropped their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 30th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Sanford C. Bernstein dropped their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Finally, Guggenheim dropped their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.15.

Sysco Stock Up 2.7%

Shares of NYSE:SYY opened at $76.36 on Friday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The stock has a market capitalization of $36.51 billion, a P/E ratio of 21.15, a PEG ratio of 3.04 and a beta of 0.65. The stock has a 50-day simple moving average of $74.45 and a 200-day simple moving average of $78.09.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The firm had revenue of $20.52 billion for the quarter, compared to analysts’ expectations of $20.56 billion. During the same quarter in the previous year, the firm posted $0.96 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Equities analysts forecast that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a dividend of $0.55 per share. This is a boost from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 annualized dividend and a yield of 2.9%. Sysco’s dividend payout ratio is presently 59.83%.

Insider Buying and Selling

In related news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. The trade was a 49.46% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.56% of the company’s stock.

Sysco Company 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.