Invesco Ltd. Has $1.19 Billion Stock Holdings in Sysco Corporation $SYY

Invesco Ltd. reduced its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,150,862 shares of the company's stock after selling 206,296 shares during the period. Invesco Ltd. owned about 3.37% of Sysco worth $1,190,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SYY. Intech Investment Management LLC raised its stake in shares of Sysco by 53.1% during the first quarter. Intech Investment Management LLC now owns 22,310 shares of the company's stock valued at $1,674,000 after acquiring an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Sysco by 24.1% in the second quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company's stock worth $781,000 after purchasing an additional 2,000 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Sysco by 62.4% in the second quarter. NewEdge Advisors LLC now owns 35,447 shares of the company's stock valued at $2,685,000 after purchasing an additional 13,616 shares during the period. Sei Investments Co. raised its position in Sysco by 14.2% during the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company's stock worth $26,092,000 after purchasing an additional 42,903 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Sysco by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company's stock worth $17,166,000 after buying an additional 1,710 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity at Sysco

In other news, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the transaction, 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. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SYY has been the subject of several recent research reports. Piper Sandler decreased their price target on Sysco from $83.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Guggenheim lowered their price objective on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 2nd. Sanford C. Bernstein cut their target price on Sysco from $90.00 to $85.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 29th. Wells Fargo & Company raised 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. Finally, UBS Group dropped their price target on Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, April 2nd. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.15.

Sysco Trading Down 0.5%

SYY opened at $78.64 on Friday. The company has a fifty day moving average price of $75.30 and a two-hundred day moving average price of $78.29. 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 $37.60 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 3.23 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $20.56 billion. During the same period last year, the company earned $0.96 EPS. Sysco's revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Analysts predict that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. This is a positive change from Sysco's previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, July 2nd. Sysco's dividend payout ratio is presently 59.83%.

About Sysco

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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