California Public Employees Retirement System Reduces Stock Holdings in Sysco Corporation $SYY

California Public Employees Retirement System reduced its position in shares of Sysco Corporation (NYSE:SYY) by 8.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 874,330 shares of the company’s stock after selling 78,416 shares during the quarter. California Public Employees Retirement System’s holdings in Sysco were worth $62,366,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Sysco by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock valued at $4,591,281,000 after buying an additional 814,270 shares during the period. State Street Corp increased its holdings in Sysco by 0.9% during the third quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after buying an additional 246,542 shares during the last quarter. Geode Capital Management LLC raised its position in Sysco by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after acquiring an additional 131,659 shares during the period. Norges Bank purchased a new position in shares of Sysco during the 4th quarter worth $542,780,000. Finally, Morgan Stanley boosted its stake in shares of Sysco by 9.0% during the 4th quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock worth $446,444,000 after acquiring an additional 500,881 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Activity

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director owned 40,200 shares of the company’s stock, valued at $3,021,834. This trade represents a 49.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYY. Sanford C. Bernstein reduced their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft downgraded Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research report on Tuesday, April 28th. Morgan Stanley boosted their price target on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday. Citigroup upped their price target on Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, UBS Group lowered their price objective on Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sysco presently has a consensus rating of “Hold” and an average target price of $88.00.

Sysco Stock Down 0.1%

Shares of SYY stock opened at $81.62 on Monday. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The company’s fifty day moving average price is $78.63 and its 200-day moving average price is $79.49. The company has a market capitalization of $39.03 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 3.12 and a beta of 0.64.

Sysco (NYSE:SYY) last issued its earnings results 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 the consensus estimate of $20.56 billion. During the same period in the prior year, the company posted $0.96 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. Sell-side analysts expect that Sysco Corporation will post 4.59 EPS for the current fiscal year.

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.