National Pension Service Raises Stock Holdings in Sysco Corporation $SYY

National Pension Service raised its stake in Sysco Corporation (NYSE:SYY) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 911,016 shares of the company’s stock after buying an additional 50,845 shares during the quarter. National Pension Service owned about 0.19% of Sysco worth $76,143,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SYY. United Capital Financial Advisors LLC purchased a new stake in Sysco during the 2nd quarter worth approximately $2,633,000. Rakuten Investment Management Inc. purchased a new stake in shares of Sysco during the second quarter worth $6,523,000. Empowered Funds LLC acquired a new stake in Sysco in the 2nd quarter valued at about $9,370,000. Norges Bank acquired a new position in Sysco during the 4th quarter worth approximately $542,780,000. Finally, Banque Cantonale Vaudoise grew its stake in shares of Sysco by 301.9% during the first quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock worth $1,200,000 after purchasing an additional 12,641 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYY has been the subject of several analyst reports. Piper Sandler upped their price objective on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a report on Sunday, September 6th. Morgan Stanley boosted their price objective on shares of Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, Citigroup increased their target price on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $89.50.

Sysco Trading Up 1.2%

NYSE:SYY opened at $83.28 on Friday. The company has a market capitalization of $39.90 billion, a PE ratio of 22.75, a P/E/G ratio of 2.83 and a beta of 0.63. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The stock’s 50 day moving average price is $82.87 and its 200 day moving average price is $80.04. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the prior year, the company earned $1.48 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, research analysts anticipate that Sysco Corporation will post 5.08 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco’s dividend payout ratio is presently 60.11%.

Insider Buying and Selling at Sysco

In related news, EVP Ronald Phillips sold 506 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $84.09, for a total transaction of $42,549.54. Following the transaction, the executive vice president owned 36,313 shares of the company’s stock, valued at $3,053,560.17. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 have sold a total of 14,508 shares of company stock worth $1,215,250 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

About Sysco

Sysco Corporation (NYSE:SYY) is a global foodservice distributor that supplies restaurants, health care and educational institutions, hospitality businesses, government facilities, and other customers. Its product portfolio includes fresh and frozen foods, meat and seafood, dairy products, produce, pantry staples, beverages, and specialty items, along with nonfood products such as kitchen equipment, cleaning supplies, and disposable serving products.

In addition to distribution, Sysco provides services designed to support foodservice operators, including menu planning, culinary consulting, merchandising assistance, supply-chain solutions, and business-management resources.