CIBC Private Wealth Group LLC Acquires 6,429 Shares of Sysco Corporation $SYY

CIBC Private Wealth Group LLC raised its holdings in shares of Sysco Corporation (NYSE:SYY) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,109 shares of the company’s stock after buying an additional 6,429 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Sysco were worth $5,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. grew its holdings in shares of Sysco by 2.6% during the third quarter. 1620 Investment Advisors Inc. now owns 4,904 shares of the company’s stock worth $404,000 after purchasing an additional 126 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Sysco by 0.3% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 40,852 shares of the company’s stock valued at $3,364,000 after purchasing an additional 130 shares in the last quarter. Silver Oak Securities Incorporated lifted its position in Sysco by 4.0% during the third quarter. Silver Oak Securities Incorporated now owns 3,493 shares of the company’s stock valued at $288,000 after purchasing an additional 134 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in 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 purchasing an additional 135 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in Sysco by 4.6% in the 3rd quarter. Global Retirement Partners LLC now owns 3,227 shares of the company’s stock worth $266,000 after buying an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 2,801 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were 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 approximately $1,067,915.32. This represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronald L. Phillips sold 5,601 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was 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 owned 35,965 shares in the company, valued at $2,913,165. The trade was a 13.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SYY. Truist Financial raised their price objective on shares of Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Guggenheim reiterated a “buy” rating on shares of Sysco in a research report on Thursday, March 5th. Jefferies Financial Group increased their target price on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Morgan Stanley dropped their price target on Sysco from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.31.

Sysco Price Performance

NYSE SYY opened at $81.34 on Friday. The stock has a market capitalization of $38.95 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.54 and a beta of 0.58. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $91.85. 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 business’s fifty day moving average price is $84.40 and its 200-day moving average price is $79.62.

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

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. Sysco’s dividend payout ratio is presently 58.06%.

Sysco Company 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.