Bank of New York Mellon Corp Acquires Shares of 3,270,199 Sysco Corporation $SYY

Bank of New York Mellon Corp bought a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,270,199 shares of the company's stock, valued at approximately $273,323,000. Bank of New York Mellon Corp owned 0.68% of Sysco as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Norges Bank acquired a new position in Sysco in the fourth quarter valued at about $542,780,000. Wellington Management Group LLP raised its position in shares of Sysco by 3,977.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company's stock valued at $387,935,000 after buying an additional 4,595,819 shares in the last quarter. First Nebraska Trust Co bought a new stake in shares of Sysco during the 1st quarter worth approximately $156,697,000. Goldman Sachs Group Inc. lifted its holdings in shares of Sysco by 45.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company's stock worth $416,472,000 after acquiring an additional 1,754,306 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Sysco by 128.7% during the 1st quarter. Royal Bank of Canada now owns 2,357,585 shares of the company's stock worth $168,166,000 after acquiring an additional 1,326,600 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 6,285 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $83.94, for a total transaction of $527,562.90. Following the completion of the sale, the executive vice president directly owned 39,970 shares in the company, valued at approximately $3,355,081.80. This trade represents a 13.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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. Also, Director John M. Hinshaw bought 13,304 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director directly owned 40,200 shares of the company's stock, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.56% of the stock is owned by company insiders.

Sysco News Roundup

Here are the key news stories impacting Sysco this week:

• Positive Sentiment: Sysco appointed Jason Murray, a former Amazon supply-chain technology executive, and Tom Ondrof, a former Aramark CFO, to its board effective September 1. Their expertise in artificial intelligence, logistics, foodservice, finance, and mergers could strengthen execution and governance. Sysco Announces Strategic Board Appointments and AI Transformation Initiatives
• Positive Sentiment: The company reiterated fiscal 2027 targets of 6%–7% revenue growth and 9%–11% adjusted EPS growth, including a planned $100 million AI-enabled cost-savings program. Sysco is also upgrading its technology committee to oversee the broader AI transformation. Sysco Gains After Highlighting Board Changes and AI Initiatives
• Positive Sentiment: D.E. Shaw reportedly owns more than $1 billion of Sysco stock and supports the AI strategy and pending Jetro Restaurant Depot acquisition. Its expected participation in the transaction’s capital raise signals institutional confidence in Sysco’s long-term plans. D.E. Shaw Owns More Than $1 Billion Stake in Sysco
• Positive Sentiment: Sysco declared a quarterly dividend of $0.55 per share, payable October 23 to shareholders of record October 2. The maintained payout provides income support and indicates continued confidence in cash generation. Sysco Declares Quarterly Dividend Payment
• Neutral Sentiment: Persistent food inflation and uncertainty around tariffs remain industry-wide considerations. Higher food costs can lift Sysco’s reported sales, but may pressure restaurant demand, customer margins, and Sysco’s profitability if costs cannot be passed through. Trump's 90-Day Inflation Band-Aid
• Negative Sentiment: The Jetro Restaurant Depot acquisition still carries regulatory, financing, integration, and execution risks. Any delays, dilution, or failure to deliver expected synergies could weigh on SYY despite the positive strategic narrative.

Sysco Stock Performance

Shares of SYY stock opened at $84.04 on Friday. The business's 50-day moving average price is $82.65 and its 200-day moving average price is $80.64. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The firm has a market capitalization of $40.23 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.88 and a beta of 0.64.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business had revenue of $22.12 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the company earned $1.48 EPS. The firm's 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. Equities research analysts forecast that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.6%. Sysco's dividend payout ratio is presently 60.11%.

Analysts Set New Price Targets

SYY has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Sysco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Morgan Stanley raised their target price on Sysco from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. Sanford C. Bernstein lowered their price target on Sysco from $90.00 to $85.00 and set a "market perform" rating for the company in a report on Wednesday, April 29th. Barclays reduced their price objective on Sysco from $92.00 to $86.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Finally, Melius Research downgraded Sysco from a "hold" rating to a "sell" rating in a research note on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $89.50.

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.

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