Sysco Corporation $SYY Holdings Lowered by KBC Group NV

KBC Group NV lessened its holdings in Sysco Corporation (NYSE:SYY) by 8.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 81,028 shares of the company’s stock after selling 7,755 shares during the quarter. KBC Group NV’s holdings in Sysco were worth $6,137,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. lifted its stake in Sysco by 1.0% in the first 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 during the last quarter. Boston Partners lifted its position in shares of Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company’s stock worth $1,139,798,000 after acquiring an additional 3,015,714 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Sysco by 2.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company’s stock valued at $551,810,000 after buying an additional 146,573 shares during the period. Northern Trust Corp boosted its stake in Sysco by 2.6% in the 1st quarter. Northern Trust Corp now owns 5,828,930 shares of the company’s stock valued at $437,403,000 after buying an additional 145,477 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Sysco by 8.3% during the first 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 buying an additional 391,614 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYY. Truist Financial lifted their price objective on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Citigroup dropped their price target on shares of Sysco from $86.00 to $82.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Sysco in a research note on Thursday. Morgan Stanley set a $88.00 target price on Sysco in a research note on Tuesday, October 21st. Finally, Sanford C. Bernstein assumed coverage on shares of Sysco in a research note on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Insider Buying and Selling

In related news, EVP Ronald L. Phillips sold 961 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the sale, the executive vice president directly owned 41,501 shares of the company’s stock, valued at $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by company insiders.

Sysco Stock Performance

Shares of SYY stock opened at $74.66 on Friday. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.15 and a quick ratio of 0.70. The company has a market cap of $35.75 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.19 and a beta of 0.79. Sysco Corporation has a one year low of $67.12 and a one year high of $83.47. The firm has a 50-day moving average of $78.80 and a 200-day moving average of $77.18.

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

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd will be paid 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 dividend yield of 2.9%. Sysco’s payout ratio is 57.91%.

Sysco Profile

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.