California Public Employees Retirement System Sells 34,402 Shares of Sysco Corporation $SYY

California Public Employees Retirement System cut its holdings in Sysco Corporation (NYSE:SYY) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 957,673 shares of the company’s stock after selling 34,402 shares during the period. California Public Employees Retirement System owned 0.20% of Sysco worth $72,534,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Chung Wu Investment Group LLC purchased a new stake in shares of Sysco during the second quarter worth $30,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of Sysco by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock valued at $32,000 after purchasing an additional 204 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Sysco by 234.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the period. 1248 Management LLC purchased a new stake in Sysco during the 1st quarter worth about $35,000. Finally, Banque Transatlantique SA bought a new position in Sysco in the 1st quarter worth about $35,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the sale, the executive vice president owned 41,501 shares of the company’s stock, valued at $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SYY. Morgan Stanley set a $88.00 price target on Sysco in a research report on Tuesday, October 21st. Barclays increased their target price on shares of Sysco from $82.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Citigroup reduced their price target on shares of Sysco from $86.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Sanford C. Bernstein began coverage on shares of Sysco in a report on Wednesday, October 22nd. They issued a “market perform” rating and a $83.00 price target on the stock. Finally, Guggenheim lifted their price objective on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Sysco Stock Performance

NYSE SYY opened at $72.66 on Tuesday. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The company has a fifty day moving average of $76.74 and a 200-day moving average of $77.67. The company has a market capitalization of $34.80 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.40 and a beta of 0.61. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.65 and a current ratio of 1.15.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The business had revenue of $21.15 billion for the quarter, compared to analysts’ expectations of $21.03 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, equities research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, January 2nd. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.