Cibc World Market Inc. Buys 13,691 Shares of Sysco Corporation $SYY

Cibc World Market Inc. raised its stake in Sysco Corporation (NYSE:SYY) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,796 shares of the company’s stock after acquiring an additional 13,691 shares during the quarter. Cibc World Market Inc.’s holdings in Sysco were worth $11,038,000 as of its most recent SEC filing.

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

Sysco Stock Up 2.7%

Sysco stock 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 52-week low of $68.19 and a 52-week high of $91.85. The firm has a 50 day moving average price of $74.45 and a two-hundred day moving average price of $78.09. The firm has a market cap of $36.51 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 3.12 and a beta of 0.65.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $20.56 billion. During the same quarter in the previous year, the business 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 predict that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco’s previous quarterly dividend of $0.54. Sysco’s dividend payout ratio (DPR) is 59.83%.

Insider Transactions at Sysco

In other news, Director John M. Hinshaw purchased 13,304 shares of the stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the acquisition, the director owned 40,200 shares in the company, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the subject of several recent research reports. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Piper Sandler lowered their price objective on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. UBS Group lowered their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Guggenheim lowered their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Finally, Citigroup upped their price objective on Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.15.

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.