147,871 Sysco Corporation $SYY Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in shares of Sysco Corporation (NYSE:SYY) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,078,503 shares of the company’s stock after selling 147,871 shares during the quarter. ProShare Advisors LLC’s holdings in Sysco were worth $162,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SYY. Vise Technologies Inc. increased its holdings in Sysco by 367.2% in the 3rd quarter. Vise Technologies Inc. now owns 101,610 shares of the company’s stock worth $7,922,000 after buying an additional 79,860 shares during the period. Investment Partners LTD. acquired a new stake in Sysco during the 3rd quarter worth approximately $276,000. Cidel Asset Management Inc. grew its holdings in Sysco by 5.4% in the third quarter. Cidel Asset Management Inc. now owns 4,849 shares of the company’s stock valued at $378,000 after purchasing an additional 249 shares during the last quarter. Summit Global Investments grew its position in shares of Sysco by 128.8% in the third quarter. Summit Global Investments now owns 51,064 shares of the company’s stock valued at $3,981,000 after purchasing an additional 28,748 shares during the period. Finally, Invera Wealth Advisors LLC lifted its position in Sysco by 23.6% during the third quarter. Invera Wealth Advisors LLC now owns 8,385 shares of the company’s stock valued at $654,000 after buying an additional 1,603 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SYY shares. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Citigroup reiterated a “neutral” rating on shares of Sysco in a research report on Monday, October 26th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price objective on shares of Sysco in a research report on Wednesday, September 16th. Morgan Stanley increased their price objective on Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Finally, Weiss Ratings raised shares of Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 15th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $90.42.

Insiders Place Their Bets

In other news, EVP Ronald Phillips sold 960 shares of Sysco stock in a transaction on Friday, September 11th. The shares were sold at an average price of $83.00, for a total value of $79,680.00. Following the transaction, the executive vice president directly owned 49,852 shares of the company’s stock, valued at $4,137,716. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 a total of 15,525 shares of company stock worth $1,299,736 over the last 90 days. 0.55% of the stock is currently owned by company insiders.

Sysco Price Performance

Shares of NYSE:SYY opened at $82.85 on Friday. The company has a market capitalization of $40.76 billion, a P/E ratio of 22.64, a P/E/G ratio of 2.33 and a beta of 0.64. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The firm’s 50 day simple moving average is $80.54 and its two-hundred day simple moving average is $80.51.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. Sysco had a return on equity of 95.05% and a net margin of 2.08%. Sysco’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Research analysts expect that Sysco Corporation will post 5.09 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 2nd were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $2.20 annualized dividend and a yield of 2.7%. Sysco’s dividend payout ratio (DPR) is 60.11%.

About Sysco

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.