UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,711,060 shares of the company's stock after selling 31,832 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.98% of Sysco worth $393,750,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in SYY. Mufg Securities Americas Inc. increased its position in Sysco by 8.7% in the 2nd quarter. Mufg Securities Americas Inc. now owns 14,403 shares of the company's stock valued at $1,204,000 after buying an additional 1,151 shares in the last quarter. Nissay Asset Management Corp Japan grew its stake in Sysco by 3.4% in the second quarter. Nissay Asset Management Corp Japan now owns 66,040 shares of the company's stock valued at $5,520,000 after acquiring an additional 2,166 shares during the period. Hsbc Holdings PLC grew its stake in Sysco by 5.5% in the second quarter. Hsbc Holdings PLC now owns 1,050,934 shares of the company's stock valued at $87,768,000 after acquiring an additional 55,080 shares during the period. Field & Main Bank bought a new stake in shares of Sysco during the second quarter valued at approximately $464,000. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Sysco during the second quarter valued at approximately $2,425,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Sysco news, EVP Ronald L. Phillips sold 506 shares of Sysco stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $84.09, for a total transaction of $42,549.54. Following the completion of the sale, the executive vice president directly owned 36,313 shares in the company, valued at $3,053,560.17. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 14,508 shares of company stock valued at $1,215,250 over the last quarter. Company insiders own 0.56% of the company's stock.
Sysco Trading Up 0.0%
NYSE SYY opened at $81.95 on Monday. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The business's fifty day moving average is $83.05 and its 200-day moving average is $80.54. The stock has a market capitalization of $39.26 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 2.80 and a beta of 0.64. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77.
Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion for the quarter, compared to analysts' expectations of $21.95 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. Sysco's revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Equities research analysts predict that Sysco Corporation will post 5.12 EPS for the current year.
Sysco Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 2nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 2nd. Sysco's dividend payout ratio is 60.11%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on SYY. UBS Group increased their target price on Sysco from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Piper Sandler raised their price objective on shares of Sysco from $77.00 to $84.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Melius Research cut shares of Sysco from a "hold" rating to a "sell" rating in a report on Tuesday, July 7th. Citigroup upped their target price on shares of Sysco from $82.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a research report on Saturday. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $89.50.
View Our Latest Stock Analysis on SYY
About Sysco
(
Free Report)
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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