Sysco Corporation $SYY Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in Sysco Corporation (NYSE:SYY) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 482,856 shares of the company’s stock after selling 8,313 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sysco were worth $36,572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. Invesco Ltd. increased its holdings in Sysco by 1.0% during the 1st quarter. Invesco Ltd. now owns 17,070,502 shares of the company’s stock valued at $1,280,970,000 after acquiring an additional 162,961 shares in the last quarter. Boston Partners lifted its holdings in shares of Sysco by 24.8% in the first quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after purchasing an additional 3,015,714 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Sysco by 2.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company’s stock valued at $551,810,000 after purchasing an additional 146,573 shares during the last quarter. Northern Trust Corp increased its stake in shares of Sysco by 2.6% during the 1st quarter. Northern Trust Corp now owns 5,828,930 shares of the company’s stock worth $437,403,000 after purchasing an additional 145,477 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Sysco by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,087,250 shares of the company’s stock worth $381,747,000 after purchasing an additional 391,614 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

Sysco stock opened at $75.03 on Friday. The stock has a fifty day moving average price of $78.96 and a 200 day moving average price of $77.15. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. The firm has a market capitalization of $35.93 billion, a P/E ratio of 20.12, a PEG ratio of 2.19 and a beta of 0.79. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 5.54.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The company had revenue of $21.15 billion during the quarter, compared to analysts’ expectations of $21.03 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 2.9%. Sysco’s dividend payout ratio is 57.91%.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of analyst reports. Barclays increased their target price on Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Citigroup decreased their price objective on Sysco from $86.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Sanford C. Bernstein started coverage on shares of Sysco in a research note on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 target price for the company. Bank of America upped their target price on shares of Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, UBS Group set a $90.00 price target on shares of Sysco in a research note on Wednesday, July 30th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of Sysco stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total value of $595,431.00. Following the transaction, the executive vice president owned 41,837 shares in the company, valued at $3,388,797. This trade represents a 14.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.

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.