Pensionfund Sabic Makes New $1.11 Million Investment in Sysco Corporation $SYY

Pensionfund Sabic purchased a new stake in Sysco Corporation (NYSE:SYY) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,000 shares of the company’s stock, valued at approximately $1,105,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its stake in Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after purchasing an additional 246,542 shares during the period. Capital Research Global Investors raised its stake in shares of Sysco by 0.3% in the 3rd quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock valued at $1,511,821,000 after purchasing an additional 46,040 shares during the period. Norges Bank bought a new stake in shares of Sysco in the second quarter valued at about $493,686,000. Wellington Management Group LLP boosted its position in shares of Sysco by 3,977.1% during the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after buying an additional 4,595,819 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Sysco by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,131,931 shares of the company’s stock worth $237,212,000 after buying an additional 27,693 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SYY shares. Barclays lifted their target price on Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Jefferies Financial Group upped their price target on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Guggenheim reaffirmed a “buy” rating on shares of Sysco in a research note on Thursday, March 5th. Truist Financial boosted their price objective on shares of Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $90.31.

Sysco Stock Performance

SYY opened at $82.80 on Thursday. The business’s 50-day simple moving average is $84.79 and its 200 day simple moving average is $79.61. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $91.85. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30. The firm has a market capitalization of $39.66 billion, a PE ratio of 22.26, a PEG ratio of 2.56 and a beta of 0.58.

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

Sysco Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.6%. Sysco’s dividend payout ratio (DPR) is currently 58.06%.

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.