AQR Capital Management LLC Sells 63,491 Shares of Sysco Corporation $SYY

Key Points

• AQR Capital Management LLC has reduced its position in Sysco Corporation by 31.5%, selling 63,491 shares in the first quarter, bringing its total holdings to 137,900 shares valued at approximately $10.35 million.
• Despite AQR's sell-off, other institutional investors have increased their stakes in Sysco, with 83.41% of the stock now owned by institutional investors.
• Sysco recently announced a quarterly dividend of $0.54 per share with a yield of 2.7%, to be paid to shareholders on October 24th.

AQR Capital Management LLC reduced its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 31.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,900 shares of the company's stock after selling 63,491 shares during the period. AQR Capital Management LLC's holdings in Sysco were worth $10,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in Sysco by 1.0% in the 1st quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock valued at $1,280,970,000 after purchasing an additional 162,961 shares during the period. Boston Partners boosted its holdings in Sysco by 24.8% in the 1st quarter. Boston Partners now owns 15,199,828 shares of the company's stock valued at $1,139,798,000 after purchasing an additional 3,015,714 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in Sysco by 2.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company's stock valued at $551,810,000 after purchasing an additional 146,573 shares during the period. Northern Trust Corp boosted its holdings in Sysco by 2.6% in the 1st quarter. Northern Trust Corp now owns 5,828,930 shares of the company's stock valued at $437,403,000 after purchasing an additional 145,477 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Sysco by 19.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,695,636 shares of the company's stock valued at $359,028,000 after purchasing an additional 777,271 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Trading Down 0.7%

Shares of Sysco stock opened at $80.25 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. The stock has a market capitalization of $38.90 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 2.50 and a beta of 0.80. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.17. The company has a 50-day simple moving average of $79.53 and a 200 day simple moving average of $75.25.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. The firm had revenue of $21.14 billion during the quarter, compared to analysts' expectations of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio (DPR) is presently 57.91%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America increased their price target on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday, July 18th. Guggenheim increased their price target on shares of Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Barclays raised their price objective on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Truist Financial raised their price objective on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Morgan Stanley raised their price objective on shares of Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This trade represents a 41.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ronald L. Phillips sold 7,351 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the completion of the sale, the executive vice president owned 41,837 shares of the company's stock, valued at $3,388,797. The trade was a 14.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,377 shares of company stock valued at $7,361,490 in the last 90 days. Corporate insiders own 0.54% of the company's stock.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

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