Truist Financial Corp Has $13.90 Million Stake in Sysco Corporation $SYY

Truist Financial Corp lowered its stake in shares of Sysco Corporation (NYSE:SYY) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 188,608 shares of the company’s stock after selling 41,952 shares during the period. Truist Financial Corp’s holdings in Sysco were worth $13,898,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC raised its position in shares of Sysco by 53.1% in the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after acquiring an additional 7,742 shares during the period. Schnieders Capital Management LLC. raised its holdings in Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after purchasing an additional 2,000 shares during the period. NewEdge Advisors LLC raised its holdings in Sysco by 62.4% in the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock worth $2,685,000 after purchasing an additional 13,616 shares during the period. Sei Investments Co. boosted its position in shares of Sysco by 14.2% during the second quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock worth $26,092,000 after purchasing an additional 42,903 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Sysco by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after buying an additional 1,710 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYY has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. BMO Capital Markets reissued an “outperform” rating on shares of Sysco in a research note on Wednesday, January 28th. Barclays dropped their price target on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Guggenheim cut their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Finally, Citigroup boosted their price objective on Sysco from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.15.

Sysco Trading Down 0.7%

SYY opened at $72.84 on Friday. The stock has a market capitalization of $34.83 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.99 and a beta of 0.66. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The firm’s fifty day simple moving average is $78.94 and its 200 day simple moving average is $78.26.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The firm had revenue of $20.52 billion for 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%.Sysco’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, research analysts anticipate that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a $0.55 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. This is a boost from Sysco’s previous quarterly dividend of $0.54. Sysco’s payout ratio is 59.83%.

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.