Canada Pension Plan Investment Board Invests $42.26 Million in Sysco Corporation $SYY

Canada Pension Plan Investment Board purchased a new position in Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 505,661 shares of the company’s stock, valued at approximately $42,263,000.

Several other hedge funds have also bought and sold shares of the business. Nicholas Company Inc. purchased a new position in Sysco during the fourth quarter valued at $2,278,000. Norges Bank bought a new position in shares of Sysco during the fourth quarter valued at $542,780,000. Banque Cantonale Vaudoise increased its holdings in shares of Sysco by 301.9% during the first quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock valued at $1,200,000 after acquiring an additional 12,641 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Sysco in the 4th quarter worth about $52,672,000. Finally, Parnassus Investments LLC boosted its stake in Sysco by 1.0% in the 4th quarter. Parnassus Investments LLC now owns 1,611,005 shares of the company’s stock worth $118,715,000 after purchasing an additional 15,539 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 7,350 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the transaction, the executive vice president directly owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. This trade represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 14,508 shares of company stock valued at $1,215,250 over the last 90 days. Company insiders own 0.56% of the company’s stock.

Sysco Trading Down 1.1%

NYSE:SYY opened at $82.35 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The company has a market cap of $39.46 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. The company has a 50 day simple moving average of $82.98 and a two-hundred day simple moving average of $80.58.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 EPS. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Research analysts forecast that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. Sysco’s dividend payout ratio is currently 60.11%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SYY. Piper Sandler boosted their price objective on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Citigroup lifted their target price on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Morgan Stanley boosted their price target on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. UBS Group upped their price target on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

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.