Fifth Third Bancorp Increases Position in Sysco Corporation $SYY

Fifth Third Bancorp grew its position in Sysco Corporation (NYSE:SYY - Free Report) by 71.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 330,577 shares of the company's stock after purchasing an additional 137,979 shares during the quarter. Fifth Third Bancorp owned approximately 0.07% of Sysco worth $23,580,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Simplicity Wealth LLC lifted its holdings in Sysco by 4.3% during the 1st quarter. Simplicity Wealth LLC now owns 12,010 shares of the company's stock worth $857,000 after buying an additional 491 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Sysco by 2.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 29,783 shares of the company's stock worth $2,124,000 after acquiring an additional 650 shares in the last quarter. DMC Group LLC increased its holdings in shares of Sysco by 3.0% in the 1st quarter. DMC Group LLC now owns 8,908 shares of the company's stock valued at $635,000 after acquiring an additional 260 shares during the last quarter. First Horizon Corp raised its position in shares of Sysco by 4.5% during the 1st quarter. First Horizon Corp now owns 16,313 shares of the company's stock worth $1,164,000 after acquiring an additional 697 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its position in shares of Sysco by 10.8% during the 1st quarter. Kestra Advisory Services LLC now owns 76,182 shares of the company's stock worth $5,434,000 after acquiring an additional 7,431 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director John M. Hinshaw purchased 13,304 shares of the stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the acquisition, the director directly owned 40,200 shares in the company, valued at $3,021,834. This represents a 49.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.56% of the company's stock.

Sysco Stock Down 0.4%

Sysco stock opened at $83.46 on Tuesday. The stock's 50 day moving average price is $77.91 and its 200 day moving average price is $79.28. Sysco Corporation has a 1-year low of $68.19 and a 1-year high of $91.85. The company has a market cap of $39.91 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80.

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 company had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This is an increase from Sysco's previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.6%. Sysco's dividend payout ratio is 60.94%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SYY shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Sysco in a research report on Friday, June 26th. Wall Street Zen cut Sysco from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Guggenheim cut their price target on Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, April 2nd. Barclays reduced their price objective on Sysco from $92.00 to $86.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Sysco from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research report on Tuesday, April 28th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $88.15.

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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