Bank of New York Mellon Corp Reduces Stake in Sysco Corporation $SYY

Key Points

• Bank of New York Mellon trimmed its Sysco stake by 2.4% in the fourth quarter, but still held about 4.67 million shares worth roughly $344 million.
• Sysco’s latest quarterly results missed estimates slightly, with earnings of $0.94 per share versus $0.95 expected, while revenue came in at $20.52 billion, up 4.7% year over year.
• The company boosted its quarterly dividend to $0.55 per share from $0.54, and analyst sentiment remains mixed but generally positive with an average rating of Moderate Buy and a target price of $88.15.

Bank of New York Mellon Corp decreased its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,669,295 shares of the company's stock after selling 116,030 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.97% of Sysco worth $344,080,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SYY. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Sysco during the 3rd quarter worth $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Sysco during the 4th quarter worth $25,000. Torren Management LLC purchased a new position in shares of Sysco during the 4th quarter worth $27,000. Elyxium Wealth LLC purchased a new position in shares of Sysco during the 4th quarter worth $28,000. Finally, Navalign LLC purchased a new position in shares of Sysco during the 4th quarter worth $29,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SYY. Deutsche Bank Aktiengesellschaft lowered Sysco from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research note on Tuesday, April 28th. Guggenheim decreased their target price on Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, April 2nd. Weiss Ratings lowered Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 30th. Piper Sandler decreased their target price on Sysco from $83.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Finally, Wells Fargo & Company increased their target price on Sysco from $92.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, February 19th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and an average target price of $88.15.

Sysco Price Performance

Shares of NYSE SYY opened at $74.31 on Friday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The firm has a market capitalization of $35.53 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65. The stock's 50-day simple moving average is $74.58 and its 200-day simple moving average is $78.11.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same period last year, the business posted $0.96 EPS. Sysco's revenue was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, equities research analysts forecast that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.55 per share. This is a boost from Sysco's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. Sysco's dividend payout ratio is 59.83%.

Insider Buying and Selling at Sysco

In other news, Director John M. Hinshaw purchased 13,304 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, for a total transaction 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 represents a 49.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company's stock.

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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