R Squared Ltd Sells 9,336 Shares of Sysco Corporation $SYY

R Squared Ltd cut its position in Sysco Corporation (NYSE:SYY) by 61.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,902 shares of the company’s stock after selling 9,336 shares during the quarter. R Squared Ltd’s holdings in Sysco were worth $421,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Sysco in the fourth quarter worth approximately $542,780,000. Wellington Management Group LLP increased its holdings in shares of Sysco by 3,977.1% during the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after acquiring an additional 4,595,819 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Sysco by 45.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company’s stock valued at $416,472,000 after acquiring an additional 1,754,306 shares in the last quarter. Marshall Wace LLP raised its position in shares of Sysco by 102.6% during the third quarter. Marshall Wace LLP now owns 2,359,471 shares of the company’s stock worth $194,279,000 after purchasing an additional 1,194,815 shares during the period. Finally, Suvretta Capital Management LLC acquired a new position in shares of Sysco during the fourth quarter worth approximately $79,864,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Up 0.2%

NYSE:SYY traded up $0.13 during trading hours on Tuesday, hitting $84.36. 873,677 shares of the company traded hands, compared to its average volume of 4,317,675. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58. The company has a market cap of $40.34 billion, a PE ratio of 23.34, a PEG ratio of 3.21 and a beta of 0.64. The firm’s 50-day simple moving average is $76.88 and its 200-day simple moving average is $78.91. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85.

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

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, July 2nd. This is a positive change from Sysco’s previous quarterly dividend of $0.54. Sysco’s payout ratio is currently 60.94%.

Analysts Set New Price Targets

SYY has been the subject of several research reports. Sanford C. Bernstein reduced their price target on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Barclays lowered their price objective on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Piper Sandler dropped their price objective on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research report on Tuesday, April 28th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $88.15.

Insider Activity at Sysco

In other news, Director John M. Hinshaw bought 13,304 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the transaction, the director directly owned 40,200 shares in the company, valued at $3,021,834. This represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Sysco Company 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.