M&T Bank Corp Cuts Stake in Sysco Corporation $SYY

Key Points

• M&T Bank Corp cut its stake in Sysco by 55.4% in Q4, selling 106,293 shares and leaving 85,600 shares valued at about $6.31 million.
• Analyst consensus labels Sysco a "Moderate Buy" with a consensus target of $87.85 (nine Buy, six Hold), although several firms recently adjusted targets between $72 and $95.
• Company results and shareholder actions: Sysco slightly beat Q EPS ($0.99 vs. $0.98), set FY2026 guidance at 4.60 EPS, and raised its quarterly dividend to $0.55 (annualized $2.20, ~2.9% yield).

M&T Bank Corp lessened its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 55.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,600 shares of the company's stock after selling 106,293 shares during the period. M&T Bank Corp's holdings in Sysco were worth $6,308,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its holdings in Sysco by 3,977.1% in the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company's stock valued at $387,935,000 after purchasing an additional 4,595,819 shares during the period. Mondrian Investment Partners LTD purchased a new stake in Sysco during the 3rd quarter worth about $142,237,000. Marshall Wace LLP raised its position in Sysco by 102.6% in the 3rd quarter. Marshall Wace LLP now owns 2,359,471 shares of the company's stock valued at $194,279,000 after purchasing an additional 1,194,815 shares in the last quarter. Scopus Asset Management L.P. acquired a new stake in Sysco in the 3rd quarter valued at about $87,075,000. Finally, Sunriver Management LLC purchased a new position in shares of Sysco in the 3rd quarter valued at about $45,809,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SYY. Sanford C. Bernstein set a $90.00 target price on shares of Sysco and gave the stock a "market perform" rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded shares of Sysco from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Citigroup lowered their price target on shares of Sysco from $88.00 to $72.00 and set a "neutral" rating for the company in a report on Tuesday, March 31st. Weiss Ratings downgraded shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, March 30th. Finally, UBS Group reduced their price objective on shares of Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, April 2nd. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $87.85.

Sysco Price Performance

Shares of NYSE SYY opened at $76.59 on Friday. The stock's 50-day simple moving average is $81.19 and its 200-day simple moving average is $78.53. The firm has a market capitalization of $36.68 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.74 and a beta of 0.69. Sysco Corporation has a fifty-two week low of $68.00 and a fifty-two week high of $91.85. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.75 and a current ratio of 1.30.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.01. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The firm had revenue of $20.76 billion during the quarter, compared to the consensus estimate of $20.80 billion. During the same period in the prior year, the company posted $0.93 earnings per share. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.600-4.600 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 business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco's previous quarterly dividend of $0.54. Sysco's dividend payout ratio (DPR) is currently 59.14%.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 2,801 shares of Sysco stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $82.99, for a total transaction of $232,454.99. Following the sale, the director directly owned 12,868 shares in the company, valued at $1,067,915.32. This trade represents a 17.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald L. Phillips sold 5,601 shares of the business's stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total transaction of $453,681.00. Following the completion of the sale, the executive vice president directly owned 35,965 shares of the company's stock, valued at approximately $2,913,165. This trade represents a 13.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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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