Swiss Life Asset Management Ltd Boosts Stake in Sysco Corporation $SYY

Swiss Life Asset Management Ltd lifted its position in Sysco Corporation (NYSE:SYY) by 13.8% in the 3rd quarter, Holdings Channel reports. The fund owned 85,959 shares of the company’s stock after acquiring an additional 10,420 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Sysco were worth $7,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYY. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Sysco during the third quarter valued at approximately $25,000. Harbor Capital Advisors Inc. raised its holdings in Sysco by 75.0% in the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock worth $26,000 after purchasing an additional 135 shares in the last quarter. Peterson Wealth Services lifted its position in Sysco by 875.7% during the third quarter. Peterson Wealth Services now owns 361 shares of the company’s stock valued at $30,000 after buying an additional 324 shares during the period. Darwin Wealth Management LLC purchased a new position in Sysco during the second quarter valued at $31,000. Finally, Vermillion & White Wealth Management Group LLC grew its position in shares of Sysco by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock worth $32,000 after buying an additional 204 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 5,601 shares of the 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 sale, the executive vice president directly owned 35,965 shares in the company, valued at approximately $2,913,165. This trade represents a 13.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,801 shares of Sysco 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 sale, the director directly owned 12,868 shares of the company’s stock, valued at approximately $1,067,915.32. The trade was a 17.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.56% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $81.34 on Friday. Sysco Corporation has a one year low of $67.12 and a one year high of $91.85. The company’s 50-day moving average is $84.40 and its 200 day moving average is $79.61. The company has a market capitalization of $38.95 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 2.53 and a beta of 0.58. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30.

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

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 2nd will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, April 2nd. Sysco’s payout ratio is presently 58.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Sysco from $80.00 to $83.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Morgan Stanley lowered 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. Citigroup boosted their price target on Sysco from $81.00 to $88.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. UBS Group upped their price target on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research 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 presently has an average rating of “Moderate Buy” and an average price target of $90.31.

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.