Invesco Ltd. Sells 741,554 Shares of Sysco Corporation $SYY

Invesco Ltd. lowered its position in shares of Sysco Corporation (NYSE:SYY) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,357,158 shares of the company’s stock after selling 741,554 shares during the quarter. Invesco Ltd.’s holdings in Sysco were worth $1,346,848,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jackson Grant Investment Advisers Inc. bought a new position in shares of Sysco in the 3rd quarter worth about $25,000. Harbor Capital Advisors Inc. boosted its stake in Sysco by 75.0% during the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company’s stock worth $26,000 after acquiring an additional 135 shares in the last quarter. Peterson Wealth Services boosted its stake in Sysco by 875.7% during the third quarter. Peterson Wealth Services now owns 361 shares of the company’s stock worth $30,000 after acquiring an additional 324 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Sysco in the second quarter worth about $31,000. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in Sysco by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 419 shares of the company’s stock worth $32,000 after purchasing an additional 204 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SYY. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 24th. Sanford C. Bernstein set a $90.00 price target on Sysco and gave the stock a “market perform” rating in a research note on Wednesday, January 28th. JPMorgan Chase & Co. lifted their price objective on Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Citigroup boosted their target price on Sysco from $81.00 to $88.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Finally, Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $90.31.

Insiders Place Their Bets

In other Sysco news, EVP Ronald L. Phillips sold 5,601 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sheila Talton sold 2,801 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $82.99, for a total transaction of $232,454.99. Following the transaction, the director owned 12,868 shares in the company, valued at $1,067,915.32. This represents a 17.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.56% of the company’s stock.

Sysco Trading Up 0.3%

NYSE:SYY opened at $84.85 on Friday. The stock has a market cap of $40.64 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.63 and a beta of 0.58. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 5.45. The company’s 50 day moving average price is $83.19 and its 200-day moving average price is $79.48. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $91.85.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $20.76 billion during the quarter, compared to analyst estimates of $20.80 billion. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 EPS. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, equities research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Thursday, April 2nd will be paid a $0.54 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $2.16 annualized dividend and a dividend yield of 2.5%. Sysco’s payout ratio is currently 58.06%.

Sysco 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.