Sysco Corporation $SYY Shares Sold by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd has reduced its stake in Sysco Corporation by 29.8%, selling 38,700 shares and bringing its total holdings to 91,251 shares valued at approximately $6.85 million.
• Several hedge funds, including Rialto Wealth Management and Golden State Wealth Management, have significantly increased their positions in Sysco, with Rialto raising its holdings by 188.7%.
• Sysco recently announced a quarterly dividend of $0.54 per share, to be paid on October 24th, reflecting a yield of 2.6%.

USS Investment Management Ltd lowered its position in Sysco Corporation (NYSE:SYY - Free Report) by 29.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,251 shares of the company's stock after selling 38,700 shares during the quarter. USS Investment Management Ltd's holdings in Sysco were worth $6,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. raised its holdings in Sysco by 1.0% in the 1st quarter. Invesco Ltd. now owns 17,070,502 shares of the company's stock worth $1,280,970,000 after purchasing an additional 162,961 shares in the last quarter. Boston Partners raised its position in Sysco by 24.8% in the first quarter. Boston Partners now owns 15,199,828 shares of the company's stock worth $1,139,798,000 after acquiring an additional 3,015,714 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Sysco by 2.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,353,551 shares of the company's stock worth $551,810,000 after acquiring an additional 146,573 shares in the last quarter. Northern Trust Corp grew its holdings in Sysco by 2.6% during the 1st quarter. Northern Trust Corp now owns 5,828,930 shares of the company's stock valued at $437,403,000 after buying an additional 145,477 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Sysco by 19.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,695,636 shares of the company's stock valued at $359,028,000 after acquiring an additional 777,271 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Performance

SYY traded down $0.60 during midday trading on Wednesday, reaching $80.25. The company's stock had a trading volume of 2,135,835 shares, compared to its average volume of 2,568,599. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.17. The stock has a market cap of $38.90 billion, a P/E ratio of 21.51, a PEG ratio of 2.50 and a beta of 0.80. The company has a fifty day simple moving average of $79.53 and a 200 day simple moving average of $75.25. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 6.75.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The firm's revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio is presently 57.91%.

Insider Activity

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total value of $595,431.00. Following the completion of the sale, the executive vice president owned 41,837 shares of the company's stock, valued at approximately $3,388,797. This trade represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 40,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president owned 56,304 shares of the company's stock, valued at approximately $4,504,320. The trade was a 41.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,377 shares of company stock worth $7,361,490 over the last three months. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

SYY has been the subject of a number of research analyst reports. UBS Group set a $90.00 target price on Sysco in a research report on Wednesday, July 30th. Wells Fargo & Company set a $88.00 price objective on shares of Sysco and gave the company an "overweight" rating in a report on Tuesday, July 29th. Barclays increased their price objective on shares of Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Citigroup initiated coverage on shares of Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective for the company. Finally, Wall Street Zen upgraded Sysco from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and an average target price of $85.69.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.