ProShare Advisors LLC Sells 73,225 Shares of Sysco Corporation $SYY

Key Points

• ProShare Advisors LLC reduced its Sysco stake by 3.4% in the fourth quarter, selling 73,225 shares and leaving it with 2.1 million shares valued at about $155.1 million.
• Sysco reported quarterly earnings of $0.94 per share, slightly below estimates, while revenue of $20.52 billion also came in just under expectations but still rose 4.7% year over year.
• The company raised its quarterly dividend to $0.55 per share from $0.54, and analysts currently view the stock as a Moderate Buy with a consensus target price of $88.15.

ProShare Advisors LLC trimmed its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,105,004 shares of the company's stock after selling 73,225 shares during the period. ProShare Advisors LLC owned about 0.44% of Sysco worth $155,118,000 at the end of the most recent reporting period.

A number of other 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 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company's stock worth $1,674,000 after purchasing an additional 7,742 shares during the period. Schnieders Capital Management LLC. raised its stake in shares of Sysco by 24.1% during the 2nd 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 period. NewEdge Advisors LLC raised its stake in shares of Sysco by 62.4% during the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company's stock worth $2,685,000 after purchasing an additional 13,616 shares during the period. Sei Investments Co. raised its stake in shares of 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 period. Finally, Treasurer of the State of North Carolina raised its stake in shares of 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 purchasing an additional 1,710 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Up 1.3%

Shares of SYY opened at $73.54 on Tuesday. The business has a 50-day moving average of $76.72 and a 200 day moving average of $78.00. 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 cap of $35.17 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.96 and a beta of 0.66. 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 (NYSE:SYY - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $20.52 billion during the quarter, compared to analysts' expectations of $20.56 billion. During the same period last year, the business posted $0.96 EPS. The company's 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. As a group, research analysts forecast that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, July 2nd. This is a boost from Sysco's previous quarterly dividend of $0.54. Sysco's payout ratio is presently 60.94%.

Analyst Ratings Changes

SYY has been the topic of a number of recent analyst reports. Weiss Ratings cut Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 30th. Wells Fargo & Company lifted their price objective on Sysco from $92.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, February 19th. Truist Financial lifted their price objective on Sysco from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Wednesday, January 28th. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, Argus raised Sysco to a "hold" rating in a report on Thursday, January 29th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.15.

Sysco Company 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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