Hsbc Holdings PLC Has $87.77 Million Stock Holdings in Sysco Corporation $SYY

Hsbc Holdings PLC raised its holdings in shares of Sysco Corporation (NYSE:SYY) by 5.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,050,934 shares of the company’s stock after purchasing an additional 55,080 shares during the quarter. Hsbc Holdings PLC’s holdings in Sysco were worth $87,768,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SYY. Field & Main Bank acquired a new stake in shares of Sysco in the 2nd quarter valued at approximately $464,000. Lombard Odier Asset Management Europe Ltd acquired a new position in Sysco during the second quarter valued at approximately $2,425,000. Archer Investment Corp bought a new stake in Sysco in the second quarter valued at approximately $159,000. Kingsview Wealth Management LLC acquired a new stake in Sysco in the second quarter worth $829,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in Sysco in the second quarter worth $2,313,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Up 0.1%

SYY stock opened at $80.10 on Monday. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The stock has a market capitalization of $38.38 billion, a P/E ratio of 21.89, a P/E/G ratio of 2.73 and a beta of 0.63. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The business has a 50-day moving average of $83.13 and a 200-day moving average of $80.26.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating 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 firm had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the previous year, the business posted $1.48 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, sell-side analysts anticipate that Sysco Corporation will post 5.12 earnings per share for the current fiscal year.

Sysco Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler lifted their target price on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research report on Sunday. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Morgan Stanley increased their target price on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings raised shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Insider Buying and Selling

In related news, EVP Ronald Phillips sold 7,350 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the transaction, the executive vice president owned 38,650 shares in the company, valued at approximately $3,231,526.50. This represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 worth $1,215,250 in the last ninety days. Corporate 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.