Sysco Corporation $SYY Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its Sysco stake by 27.5% in the first quarter, selling 1.28 million shares and leaving it with about 3.38 million shares valued at roughly $241.4 million.
• Sysco shares were down 0.8% to $81.62, and the stock has traded between a 12-month low of $68.19 and high of $91.85. The company’s valuation metrics include a market cap of $39.03 billion and a P/E ratio of 22.61.
• Sysco missed quarterly EPS estimates by $0.01, reporting $0.94 per share on revenue of $20.52 billion, while analysts currently rate the stock a consensus Hold with an average price target of $88.00.

Bank of New York Mellon Corp trimmed its position in Sysco Corporation (NYSE:SYY - Free Report) by 27.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,384,556 shares of the company's stock after selling 1,284,739 shares during the period. Bank of New York Mellon Corp owned approximately 0.71% of Sysco worth $241,420,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas lifted its position in Sysco by 8.0% during the 4th quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company's stock worth $27,307,000 after acquiring an additional 27,510 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Sysco by 9.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company's stock valued at $30,445,000 after buying an additional 35,647 shares during the period. Nicholas Company Inc. bought a new position in shares of Sysco during the 4th quarter worth about $2,278,000. Nordea Investment Management AB boosted its holdings in Sysco by 38.8% during the fourth quarter. Nordea Investment Management AB now owns 1,952,615 shares of the company's stock valued at $144,552,000 after purchasing an additional 545,688 shares in the last quarter. Finally, Norges Bank bought a new stake in Sysco during the fourth quarter worth about $542,780,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Down 0.8%

Shares of NYSE SYY opened at $81.62 on Friday. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The company has a market cap of $39.03 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 3.13 and a beta of 0.64. The stock has a 50-day moving average price of $78.63 and a two-hundred day moving average price of $79.45.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. During the same period in the prior year, the company posted $0.96 earnings per share. The company'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. As a group, analysts forecast that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John M. Hinshaw bought 13,304 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the acquisition, the director owned 40,200 shares of the company's stock, valued at approximately $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on SYY. UBS Group dropped their target price on shares of Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 2nd. Citigroup upped their price objective on shares of Sysco from $78.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Melius Research downgraded Sysco from a "hold" rating to a "sell" rating in a research note on Tuesday, July 7th. Guggenheim lowered their price target on Sysco from $95.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Finally, Barclays decreased their price objective on Sysco from $92.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Sysco currently has an average rating of "Hold" and an average price target of $88.00.

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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