Sysco Corporation $SYY Position Trimmed by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of Sysco Corporation (NYSE:SYY) by 3.0% during the third quarter, HoldingsChannel reports. The fund owned 812,900 shares of the company’s stock after selling 25,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Sysco were worth $63,374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SYY. BlackRock Inc. purchased a new position in shares of Sysco during the 2nd quarter worth about $3,596,356,000. Bank of America Corp DE purchased a new stake in Sysco in the 2nd quarter worth about $482,589,000. Primecap Management Co. CA purchased a new stake in Sysco in the 2nd quarter worth about $313,503,000. Bank of New York Mellon Corp bought a new stake in Sysco in the second quarter worth about $273,323,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Sysco in the second quarter worth about $203,861,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.4%

NYSE SYY opened at $82.85 on Friday. The company’s 50-day moving average price is $80.54 and its 200-day moving average price is $80.51. 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 stock has a market cap of $40.76 billion, a PE ratio of 17.90, a PEG ratio of 2.32 and a beta of 0.64. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter last year, the firm posted $1.48 EPS. The firm’s revenue 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 research analysts forecast that Sysco Corporation will post 5.09 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were given a dividend of $0.55 per share. The ex-dividend date of this dividend was 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 (DPR) is 60.11%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SYY shares. Piper Sandler boosted their target price on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Guggenheim reiterated a “buy” rating and issued a $90.00 price target on shares of Sysco in a report on Wednesday, September 16th. Morgan Stanley increased their price target on Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. Melius Research lowered Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Sysco from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.42.

Insider Activity at Sysco

In other news, EVP Ronald Phillips sold 7,350 shares of Sysco stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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. Insiders have sold 15,525 shares of company stock worth $1,299,736 over the last 90 days. Company insiders own 0.55% of the company’s stock.

Sysco Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.