Sysco Corporation $SYY Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its stake in shares of Sysco Corporation (NYSE:SYY) by 22.0% in the second quarter, HoldingsChannel reports. The fund owned 31,248 shares of the company’s stock after buying an additional 5,632 shares during the quarter. iA Global Asset Management Inc.’s holdings in Sysco were worth $2,367,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SYY. Boston Partners increased its stake in shares of Sysco by 24.8% during the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after acquiring an additional 3,015,714 shares during the last quarter. Nuveen LLC acquired a new position in shares of Sysco during the 1st quarter valued at about $85,341,000. Amundi increased its stake in shares of Sysco by 36.5% during the 1st quarter. Amundi now owns 3,725,508 shares of the company’s stock valued at $280,941,000 after acquiring an additional 995,498 shares during the last quarter. Mackenzie Financial Corp increased its position in Sysco by 1,940.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,016,660 shares of the company’s stock worth $76,290,000 after purchasing an additional 966,826 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its position in Sysco by 38.8% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,015,994 shares of the company’s stock worth $151,280,000 after purchasing an additional 563,921 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the subject of a number of research analyst reports. Citigroup dropped their target price on shares of Sysco from $86.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday. Guggenheim increased their price objective on shares of Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Truist Financial increased their price objective on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Sanford C. Bernstein initiated coverage on shares of Sysco in a research report on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price objective for the company. Finally, UBS Group set a $90.00 price objective on shares of Sysco in a research report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.00.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 7,351 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total transaction of $595,431.00. Following the transaction, the executive vice president directly owned 41,837 shares in the company, valued at $3,388,797. This trade represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 14,732 shares of company stock worth $1,193,245 in the last quarter. Company insiders own 0.56% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $72.84 on Tuesday. The stock has a market cap of $34.88 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 5.54. The stock has a 50 day moving average of $79.95 and a 200-day moving average of $77.09. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The firm had revenue of $21.15 billion for the quarter, compared to analysts’ expectations of $21.03 billion. During the same period last year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, 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 was paid on Friday, October 24th. Investors of record on Friday, October 3rd were paid a dividend of $0.54 per share. The ex-dividend date was Friday, October 3rd. This represents a $2.16 annualized dividend and a yield of 3.0%. Sysco’s dividend payout ratio (DPR) is 57.91%.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.