Invesco Ltd. Sells 741,554 Shares of Sysco Corporation $SYY

Invesco Ltd. lessened its holdings in Sysco Corporation (NYSE:SYY) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,357,158 shares of the company’s stock after selling 741,554 shares during the quarter. Invesco Ltd. owned 3.42% of Sysco worth $1,346,848,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. grew its stake in shares of Sysco by 2.6% during the third quarter. 1620 Investment Advisors Inc. now owns 4,904 shares of the company’s stock valued at $404,000 after buying an additional 126 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Sysco by 0.3% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 40,852 shares of the company’s stock valued at $3,364,000 after acquiring an additional 130 shares during the last quarter. Silver Oak Securities Incorporated lifted its stake in shares of Sysco by 4.0% in the 3rd quarter. Silver Oak Securities Incorporated now owns 3,493 shares of the company’s stock valued at $288,000 after acquiring an additional 134 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Sysco by 75.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock valued at $26,000 after acquiring an additional 135 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in Sysco by 4.6% during the 3rd quarter. Global Retirement Partners LLC now owns 3,227 shares of the company’s stock valued at $266,000 after acquiring an additional 141 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of Sysco stock opened at $84.85 on Friday. The business has a 50 day moving average of $83.19 and a 200 day moving average of $79.48. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $91.85. The company has a market cap of $40.64 billion, a PE ratio of 22.81, a P/E/G ratio of 2.63 and a beta of 0.58. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 5.45.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $20.76 billion for the quarter, compared to analysts’ expectations of $20.80 billion. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 earnings per share. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. As a group, equities research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Thursday, April 2nd will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.5%. Sysco’s payout ratio is presently 58.06%.

Insider Activity

In related news, EVP Ronald L. Phillips sold 5,601 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total value of $453,681.00. Following the completion of the transaction, the executive vice president directly owned 35,965 shares of the company’s stock, valued at $2,913,165. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sheila Talton sold 2,801 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $82.99, for a total transaction of $232,454.99. Following the completion of the sale, the director owned 12,868 shares of the company’s stock, valued at $1,067,915.32. This trade represents a 17.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SYY shares. Morgan Stanley decreased their price target on Sysco from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Wells Fargo & Company raised their target price on shares of Sysco from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. Piper Sandler lifted their target price on shares of Sysco from $80.00 to $83.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Truist Financial upped their price target on shares of Sysco from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, Guggenheim reissued a “buy” rating on shares of Sysco in a report on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $90.31.

About Sysco

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.