Cibc World Market Inc. Buys 100,191 Shares of Sysco Corporation $SYY

Cibc World Market Inc. raised its stake in Sysco Corporation (NYSE:SYY) by 279.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 136,105 shares of the company’s stock after buying an additional 100,191 shares during the period. Cibc World Market Inc.’s holdings in Sysco were worth $11,207,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SYY. Caprock Group LLC acquired a new stake in Sysco during the 3rd quarter valued at approximately $1,106,000. Madison Asset Management LLC bought a new stake in shares of Sysco in the 3rd quarter valued at $1,526,000. Krilogy Financial LLC raised its stake in Sysco by 65.6% during the third quarter. Krilogy Financial LLC now owns 42,435 shares of the company’s stock worth $3,494,000 after buying an additional 16,807 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Sysco by 2.1% in the third quarter. Stratos Wealth Partners LTD. now owns 18,969 shares of the company’s stock valued at $1,562,000 after buying an additional 391 shares during the period. Finally, Wealthfront Advisers LLC boosted its position in Sysco by 12.7% during the third quarter. Wealthfront Advisers LLC now owns 92,113 shares of the company’s stock valued at $7,585,000 after acquiring an additional 10,366 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Truist Financial boosted their price objective on Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Argus raised Sysco to a “hold” rating in a research note on Thursday, January 29th. Guggenheim lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Friday. UBS Group increased their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Barclays upped their price objective on shares of Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $89.69.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 5,601 shares of Sysco stock in a transaction that occurred 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 transaction, the executive vice president owned 35,965 shares of the company’s stock, valued at $2,913,165. This trade represents a 13.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheila Talton sold 2,801 shares of the business’s stock in a transaction that occurred 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. The trade was a 17.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.56% of the stock is currently owned by company insiders.

Sysco Stock Up 0.6%

Shares of NYSE SYY opened at $90.49 on Friday. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.30 and a quick ratio of 0.75. The company has a 50-day moving average price of $77.94 and a 200-day moving average price of $78.43. The stock has a market capitalization of $43.34 billion, a P/E ratio of 24.33, a P/E/G ratio of 2.79 and a beta of 0.61. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $91.40.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $20.76 billion for the quarter, compared to analysts’ expectations of $20.80 billion. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 EPS. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, equities research analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

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.