Bank of Nova Scotia Boosts Stock Holdings in Sysco Corporation $SYY

Bank of Nova Scotia grew its holdings in Sysco Corporation (NYSE:SYY) by 648.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 504,154 shares of the company’s stock after purchasing an additional 436,778 shares during the quarter. Bank of Nova Scotia owned approximately 0.11% of Sysco worth $41,512,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC lifted its holdings in Sysco by 53.1% during the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock worth $1,674,000 after buying an additional 7,742 shares during the period. Schnieders Capital Management LLC. increased its holdings in shares of Sysco by 24.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock valued at $781,000 after acquiring an additional 2,000 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Sysco by 22.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,156,693 shares of the company’s stock worth $163,348,000 after acquiring an additional 399,458 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Sysco by 6.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 118,888 shares of the company’s stock worth $9,005,000 after acquiring an additional 7,007 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Sysco by 707.3% during the 2nd quarter. SG Americas Securities LLC now owns 243,148 shares of the company’s stock worth $18,416,000 after purchasing an additional 213,030 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 2,801 shares of the firm’s 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 transaction, the director owned 12,868 shares in the company, valued at $1,067,915.32. This trade represents a 17.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ronald L. Phillips sold 5,601 shares of Sysco stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the transaction, the executive vice president directly owned 35,965 shares of the company’s stock, valued at $2,913,165. The trade was a 13.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYY. Morgan Stanley cut their target price on Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 24th. Guggenheim restated a “buy” rating on shares of Sysco in a report on Thursday, March 5th. 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. Finally, Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $90.31.

Sysco Stock Performance

Shares of Sysco stock opened at $85.43 on Monday. The company has a 50 day moving average price of $83.45 and a 200 day moving average price of $79.51. The firm has a market capitalization of $40.92 billion, a P/E ratio of 22.97, a PEG ratio of 2.66 and a beta of 0.58. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 5.45. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $91.85.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The company had revenue of $20.76 billion for the quarter, compared to the consensus estimate of $20.80 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. Sysco’s revenue was up 3.0% compared to the same quarter last year. 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 year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.5%. Sysco’s payout ratio is 58.06%.

Sysco 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.