Bank of New York Mellon Corp Lowers Stock Holdings in Sysco Corporation $SYY

Bank of New York Mellon Corp reduced its stake in Sysco Corporation (NYSE:SYY) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,669,295 shares of the company’s stock after selling 116,030 shares during the quarter. Bank of New York Mellon Corp’s holdings in Sysco were worth $344,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Sysco in the 3rd quarter valued at approximately $25,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $28,000. Finally, Navalign LLC purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $29,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sysco

In other news, Director John M. Hinshaw purchased 13,304 shares of the stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the transaction, the director owned 40,200 shares in the company, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.56% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $74.31 on Friday. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65. The business has a fifty day moving average of $74.58 and a 200-day moving average of $78.11. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). The business had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.56 billion. Sysco had a net margin of 2.08% and a return on equity of 103.57%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. As a group, analysts predict that Sysco Corporation will post 4.59 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be paid a $0.55 dividend. The ex-dividend date is Thursday, July 2nd. This is an increase from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 3.0%. Sysco’s payout ratio is currently 59.83%.

Wall Street Analyst Weigh In

SYY has been the topic of a number of analyst reports. Piper Sandler decreased their price target on Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. UBS Group decreased their target price on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Barclays decreased their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Sanford C. Bernstein decreased their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus price target 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.