CIBC Bancorp USA Inc. Makes New $14.55 Million Investment in Sysco Corporation $SYY

CIBC Bancorp USA Inc. purchased a new position in Sysco Corporation (NYSE:SYY) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 176,677 shares of the company’s stock, valued at approximately $14,548,000.

Other hedge funds also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. bought a new position in Sysco in the 3rd quarter worth about $25,000. Harbor Capital Advisors Inc. increased its position in shares of Sysco by 75.0% during the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock valued at $26,000 after buying an additional 135 shares during the period. Peterson Wealth Services lifted its holdings in shares of Sysco by 875.7% in the third quarter. Peterson Wealth Services now owns 361 shares of the company’s stock worth $30,000 after buying an additional 324 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Sysco in the second quarter worth about $31,000. Finally, Vermillion & White Wealth Management Group LLC boosted its position in shares of Sysco by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock valued at $32,000 after acquiring an additional 204 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 value of $453,681.00. Following the transaction, the executive vice president owned 35,965 shares in the company, valued at $2,913,165. This trade represents a 13.47% decrease in their position. The sale was disclosed in a document filed 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 on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the completion of the sale, the director directly owned 12,868 shares of the company’s stock, valued at $1,067,915.32. This represents a 17.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.56% of the stock is currently owned by corporate insiders.

Sysco Price Performance

SYY opened at $81.64 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45. The stock has a market capitalization of $39.10 billion, a P/E ratio of 21.94, a PEG ratio of 2.56 and a beta of 0.58. The stock has a 50-day moving average price of $84.26 and a 200-day moving average price of $79.61. Sysco Corporation has a 12-month low of $67.12 and a 12-month 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 analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $20.76 billion during the quarter, compared to the consensus estimate of $20.80 billion. Sysco had a return on equity of 109.21% and a net margin of 2.17%.Sysco’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Equities analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm 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 $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, April 2nd. Sysco’s payout ratio is presently 58.06%.

Analyst Ratings Changes

SYY has been the subject of several recent analyst reports. Argus raised shares of Sysco to a “hold” rating in a research note on Thursday, January 29th. BMO Capital Markets reissued an “outperform” rating on shares of Sysco in a report on Wednesday, January 28th. Piper Sandler boosted their price target on shares of Sysco from $80.00 to $83.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Truist Financial upped their price target on shares of Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Weiss Ratings upgraded Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 24th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $90.31.

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.