Fifth Third Bancorp Sells 28,913 Shares of Sysco Corporation $SYY

Fifth Third Bancorp cut its position in Sysco Corporation (NYSE:SYY) by 12.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 194,396 shares of the company’s stock after selling 28,913 shares during the quarter. Fifth Third Bancorp’s holdings in Sysco were worth $14,724,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. NorthCrest Asset Manangement LLC boosted its stake in Sysco by 4.9% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company’s stock worth $226,000 after purchasing an additional 139 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after buying an additional 140 shares in the last quarter. Trust Co of the South grew its holdings in Sysco by 3.0% during the 2nd quarter. Trust Co of the South now owns 4,849 shares of the company’s stock worth $367,000 after acquiring an additional 142 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in Sysco by 1.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,898 shares of the company’s stock valued at $627,000 after acquiring an additional 143 shares in the last quarter. Finally, One Wealth Advisors LLC raised its stake in shares of Sysco by 3.3% in the first quarter. One Wealth Advisors LLC now owns 4,698 shares of the company’s stock worth $353,000 after acquiring an additional 151 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.5%

NYSE SYY opened at $81.84 on Thursday. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.24. The stock has a 50-day simple moving average of $80.47 and a 200 day simple moving average of $75.71. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75. The company has a market capitalization of $39.67 billion, a PE ratio of 21.94, a P/E/G ratio of 2.55 and a beta of 0.80.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. The company had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Research analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 3rd. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 37,606 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $3,046,086.00. Following the completion of the transaction, the executive vice president directly owned 30,235 shares of the company’s stock, valued at approximately $2,449,035. The trade was a 55.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares of the company’s stock, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,338 shares of company stock valued at $7,439,331 in the last three months. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SYY shares. UBS Group set a $90.00 price target on shares of Sysco in a research note on Wednesday, July 30th. Truist Financial increased their price objective on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Bank of America boosted their target price on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Wells Fargo & Company set a $88.00 price target on Sysco and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.69.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.