Sysco Corporation $SYY Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lessened its stake in shares of Sysco Corporation (NYSE:SYY) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 337,877 shares of the company’s stock after selling 7,199 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Sysco were worth $28,240,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SYY. BlackRock Inc. purchased a new position in Sysco in the 2nd quarter valued at $3,596,356,000. State Street Corp raised its position in Sysco by 0.9% during the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after buying an additional 246,542 shares during the last quarter. Geode Capital Management LLC raised its position in Sysco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after buying an additional 131,659 shares during the last quarter. Norges Bank acquired a new stake in shares of Sysco in the 4th quarter worth $542,780,000. Finally, Morgan Stanley boosted its holdings in shares of Sysco by 9.0% in the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock valued at $446,444,000 after acquiring an additional 500,881 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Sysco news, EVP Ronald L. Phillips sold 506 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.09, for a total value of $42,549.54. Following the sale, the executive vice president owned 36,313 shares of the company’s stock, valued at $3,053,560.17. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 14,508 shares of company stock valued at $1,215,250 over the last quarter. 0.56% of the stock is owned by corporate insiders.

Sysco Stock Down 0.6%

SYY opened at $81.95 on Friday. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The company has a market cap of $39.26 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 2.80 and a beta of 0.64. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The business’s fifty day moving average is $83.05 and its two-hundred day moving average is $80.59.

Sysco (NYSE:SYY) last released its quarterly earnings results 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. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The business had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Analysts anticipate that Sysco Corporation will post 5.12 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. Sysco’s payout ratio is presently 60.11%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a report on Saturday. Piper Sandler boosted their target price on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Morgan Stanley boosted their target price on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, Melius Research cut Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

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.