New York State Common Retirement Fund Sells 14,300 Shares of Sysco Corporation $SYY

New York State Common Retirement Fund lessened its holdings in Sysco Corporation (NYSE:SYY) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 310,791 shares of the company’s stock after selling 14,300 shares during the period. New York State Common Retirement Fund’s holdings in Sysco were worth $25,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. grew its stake in Sysco by 75.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock valued at $26,000 after purchasing an additional 135 shares during the period. Chung Wu Investment Group LLC purchased a new position in shares of Sysco in the 2nd quarter worth about $30,000. Darwin Wealth Management LLC bought a new position in Sysco during the second quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC increased its holdings in Sysco by 94.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock worth $32,000 after buying an additional 204 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in Sysco by 234.3% in the second quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of Sysco from $80.00 to $83.00 and gave the company a “neutral” rating in a research report on Wednesday. Jefferies Financial Group upped their price objective on Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. Argus raised Sysco to a “hold” rating in a research report on Thursday. Barclays upped their price target on Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Truist Financial increased their price target on Sysco from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.38.

Sysco Trading Down 0.3%

NYSE:SYY opened at $83.85 on Friday. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $85.33. The stock’s fifty day moving average price is $75.61 and its two-hundred day moving average price is $77.91. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.30 and a quick ratio of 0.65. The company has a market cap of $40.16 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.67 and a beta of 0.61.

Sysco (NYSE:SYY) last announced 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 company had revenue of $20.76 billion during the quarter, compared to analysts’ expectations of $20.80 billion. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 earnings per share. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. As a group, analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, January 2nd. Sysco’s dividend payout ratio is presently 58.06%.

Insider Activity at Sysco

In related news, EVP Ronald L. Phillips sold 5,601 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the transaction, the executive vice president owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. The trade was a 13.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.

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.