ProShare Advisors LLC Trims Position in Sysco Corporation $SYY

ProShare Advisors LLC lessened its stake in shares of Sysco Corporation (NYSE:SYY) by 3.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,105,004 shares of the company’s stock after selling 73,225 shares during the quarter. ProShare Advisors LLC’s holdings in Sysco were worth $155,118,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Sysco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after buying an additional 814,270 shares in the last quarter. State Street Corp grew its holdings in shares of Sysco by 0.9% during the third quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after purchasing an additional 246,542 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Sysco by 0.3% during the third quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock worth $1,511,821,000 after purchasing an additional 46,040 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Sysco by 3,977.1% during the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after purchasing an additional 4,595,819 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Sysco by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 2,639,931 shares of the company’s stock worth $201,076,000 after purchasing an additional 283,706 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SYY. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Guggenheim cut their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Truist Financial boosted their price objective on Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Jefferies Financial Group boosted their price objective on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Weiss Ratings lowered Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 30th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $88.15.

Sysco Stock Performance

NYSE:SYY opened at $73.54 on Tuesday. The business has a 50 day moving average of $76.72 and a 200 day moving average of $78.00. The company has a market capitalization of $35.17 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.96 and a beta of 0.66. 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 5.58, a current ratio of 1.33 and a quick ratio of 0.80.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The firm had revenue of $20.52 billion during 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%.The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.59 earnings per share 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. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco’s previous quarterly dividend of $0.54. Sysco’s dividend payout ratio is presently 60.94%.

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.