Canada Pension Plan Investment Board Makes New $42.26 Million Investment in Sysco Corporation $SYY

Canada Pension Plan Investment Board acquired a new stake in Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 505,661 shares of the company’s stock, valued at approximately $42,263,000. Canada Pension Plan Investment Board owned about 0.11% of Sysco as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Montag A & Associates Inc. increased its stake in shares of Sysco by 1.4% in the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock worth $644,000 after buying an additional 123 shares during the period. First Citizens Bank & Trust Co. boosted its position in Sysco by 1.2% during the 4th quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock valued at $827,000 after buying an additional 138 shares during the period. Diversify Wealth Management LLC grew its holdings in Sysco by 1.6% in the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock worth $698,000 after acquiring an additional 143 shares during the last quarter. Arax Advisory Partners grew its holdings in Sysco by 2.4% in the 4th quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock worth $458,000 after acquiring an additional 145 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Sysco by 11.1% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,469 shares of the company’s stock valued at $108,000 after acquiring an additional 147 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on SYY shares. UBS Group upped their price objective on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Piper Sandler boosted their price target on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Weiss Ratings raised Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Morgan Stanley increased their price objective on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Finally, Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 7,350 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $83.61, for a total value of $614,533.50. Following the completion of the transaction, the executive vice president owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. This represents a 15.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. In the last quarter, insiders sold 14,508 shares of company stock worth $1,215,250. 0.56% of the stock is currently owned by corporate insiders.

Sysco Stock Down 1.1%

Shares of NYSE SYY opened at $82.35 on Friday. The firm has a fifty day simple moving average of $82.98 and a two-hundred day simple moving average of $80.58. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The firm has a market capitalization of $39.46 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The company’s revenue for the quarter 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. Equities analysts expect that Sysco Corporation will post 5.12 earnings per share for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. Sysco’s dividend payout ratio is 60.11%.

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.