Fifth Third Bancorp Has $14.72 Million Stake in Sysco Corporation $SYY

Key Points

• Fifth Third Bancorp reduced its position in Sysco Corporation by 12.9%, now holding shares worth $14.72 million after selling 28,913 shares in the second quarter.
• Recent insider transactions include EVP Ronald L. Phillips selling 961 shares valued at $77,841, and EVP Greg D. Bertrand selling 40,000 shares for $3.2 million.
• Analysts have set a target price range for Sysco with ten giving it a Buy rating, while the average target price is $85.69, reflecting positive outlook among investment firms.

Fifth Third Bancorp decreased its position in Sysco Corporation (NYSE:SYY - Free Report) by 12.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 194,396 shares of the company's stock after selling 28,913 shares during the quarter. Fifth Third Bancorp's holdings in Sysco were worth $14,724,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH lifted its stake in shares of Sysco by 106.4% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company's stock valued at $236,000 after purchasing an additional 1,622 shares during the last quarter. Gradient Investments LLC lifted its position in shares of Sysco by 9.2% in the second quarter. Gradient Investments LLC now owns 189,169 shares of the company's stock worth $14,328,000 after buying an additional 15,906 shares during the last quarter. Beacon Financial Group boosted its stake in shares of Sysco by 55.5% during the 2nd quarter. Beacon Financial Group now owns 9,955 shares of the company's stock worth $754,000 after acquiring an additional 3,554 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Sysco by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock worth $16,772,000 after acquiring an additional 4,932 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new position in shares of Sysco during the 2nd quarter valued at about $730,000. Institutional investors own 83.41% of the company's stock.

Insider Transactions at Sysco

In related news, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $81.00, for a total value of $77,841.00. Following the completion of the transaction, the executive vice president owned 41,501 shares of the company's stock, valued at $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the transaction, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 92,338 shares of company stock worth $7,439,331. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on SYY. UBS Group set a $90.00 target price on Sysco in a report on Wednesday, July 30th. Morgan Stanley upped 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. Barclays boosted their target price on shares of Sysco from $77.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Bank of America lifted their price objective on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Guggenheim increased their target price on Sysco from $85.00 to $87.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $85.69.

Sysco Trading Down 0.5%

Sysco stock opened at $81.84 on Thursday. The business has a 50 day moving average price of $80.47 and a two-hundred day moving average price of $75.71. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.75. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $83.24. The stock has a market cap of $39.67 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 2.55 and a beta of 0.80.

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

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 3rd. Sysco's payout ratio is 57.91%.

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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