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

PNC Financial Services Group Inc. trimmed its position in shares of Sysco Corporation (NYSE:SYY) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,842 shares of the company’s stock after selling 6,520 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.09% of Sysco worth $32,373,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Sysco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after purchasing an additional 814,270 shares in the last quarter. State Street Corp grew its holdings in Sysco by 0.9% in the third quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after purchasing an additional 246,542 shares during the period. Geode Capital Management LLC increased its position in shares of Sysco by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock valued at $934,391,000 after buying an additional 131,659 shares in the last quarter. Norges Bank acquired a new position in shares of Sysco during the 4th quarter worth approximately $542,780,000. Finally, Morgan Stanley raised its stake in shares of Sysco by 9.0% during the 4th quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock worth $446,444,000 after buying an additional 500,881 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In related news, Director John M. Hinshaw purchased 13,304 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the transaction, the director directly owned 40,200 shares in the company, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.56% of the company’s stock.

Sysco Trading Up 1.6%

Shares of SYY stock opened at $83.07 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The company’s 50-day moving average price is $79.52 and its 200-day moving average price is $79.73. The stock has a market cap of $39.77 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 3.22 and a beta of 0.64.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The firm had revenue of $20.52 billion for the quarter, compared to analysts’ expectations of $20.56 billion. Sysco had a return on equity of 103.57% and a net margin of 2.08%.Sysco’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, equities analysts predict that Sysco Corporation will post 4.59 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SYY shares. Morgan Stanley lifted their price target on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. Guggenheim dropped their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. UBS Group cut their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Finally, Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $88.00.

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.