Sysco Corporation $SYY Position Reduced by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its position in Sysco Corporation (NYSE:SYY) by 9.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 384,452 shares of the company’s stock after selling 39,258 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Sysco were worth $27,423,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Teacher Retirement System of Texas lifted its stake in Sysco by 8.0% in the 4th quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company’s stock worth $27,307,000 after acquiring an additional 27,510 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Sysco by 9.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company’s stock worth $30,445,000 after acquiring an additional 35,647 shares during the period. Nicholas Company Inc. purchased a new position in Sysco during the 4th quarter valued at about $2,278,000. Nordea Investment Management AB increased its holdings in shares of Sysco by 38.8% in the 4th quarter. Nordea Investment Management AB now owns 1,952,615 shares of the company’s stock valued at $144,552,000 after purchasing an additional 545,688 shares during the period. Finally, Norges Bank purchased a new stake in shares of Sysco in the fourth quarter worth approximately $542,780,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Down 0.1%

Shares of NYSE SYY opened at $78.64 on Friday. The stock has a market cap of $37.60 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 3.21 and a beta of 0.65. The business has a 50 day simple moving average of $75.37 and a 200 day simple moving average of $78.30. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. 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 (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The firm had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, research analysts predict that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.55 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.8%. Sysco’s dividend payout ratio (DPR) is currently 59.83%.

Analysts Set New Price Targets

SYY has been the subject of several research reports. Citigroup raised their price target on shares of Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Barclays dropped their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. UBS Group cut their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Piper Sandler lowered their price target on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Sanford C. Bernstein dropped their price target on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.15.

Insider Activity at Sysco

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were acquired 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 of the company’s stock, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is currently owned by company insiders.

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.