Sumitomo Life Insurance Co. Boosts Position in Sysco Corporation $SYY

Sumitomo Life Insurance Co. increased its holdings in shares of Sysco Corporation (NYSE:SYY) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,418 shares of the company’s stock after purchasing an additional 11,094 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Sysco were worth $7,031,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas lifted its stake in Sysco by 8.0% in the fourth quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company’s stock valued at $27,307,000 after buying an additional 27,510 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Sysco by 9.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company’s stock valued at $30,445,000 after buying an additional 35,647 shares during the last quarter. Nicholas Company Inc. purchased a new stake in Sysco in the fourth quarter valued at approximately $2,278,000. Nordea Investment Management AB lifted its stake in Sysco by 38.8% in the fourth quarter. Nordea Investment Management AB now owns 1,952,615 shares of the company’s stock valued at $144,552,000 after buying an additional 545,688 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in Sysco in the fourth quarter valued at approximately $52,672,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SYY. Barclays reduced their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Citigroup boosted their price objective on Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on Sysco from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 30th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $88.15.

Sysco Trading Down 0.6%

NYSE:SYY opened at $79.14 on Friday. The firm has a market cap of $37.84 billion, a P/E ratio of 21.92, a PEG ratio of 3.25 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The stock’s 50 day simple moving average is $74.73 and its 200-day simple moving average is $78.18. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The company had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Equities analysts anticipate that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This is an increase from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.8%. Sysco’s dividend payout ratio is presently 59.83%.

Insider Activity

In related news, Director John M. Hinshaw bought 13,304 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the acquisition, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This trade represents a 49.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

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.