Primecap Management Co. CA Has $286.08 Million Holdings in Sysco Corporation $SYY

Primecap Management Co. CA decreased its holdings in shares of Sysco Corporation (NYSE:SYY) by 8.2% during the 2nd quarter, Holdings Channel reports. The firm owned 3,777,119 shares of the company’s stock after selling 337,952 shares during the quarter. Primecap Management Co. CA’s holdings in Sysco were worth $286,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SYY. Vanguard Group Inc. grew its holdings in Sysco by 2.0% during the second quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock worth $4,748,230,000 after buying an additional 1,226,381 shares in the last quarter. Invesco Ltd. grew its stake in shares of 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 acquiring an additional 162,961 shares in the last quarter. Boston Partners raised its holdings in shares of Sysco by 24.8% in the first quarter. Boston Partners now owns 15,199,828 shares of the company’s stock valued at $1,139,798,000 after purchasing an additional 3,015,714 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Sysco by 1.5% during the second quarter. Geode Capital Management LLC now owns 12,551,872 shares of the company’s stock valued at $946,694,000 after purchasing an additional 183,179 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position 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 purchasing an additional 146,573 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Guggenheim lifted their price target on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 6th. UBS Group set a $90.00 price target on Sysco in a report on Wednesday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Sysco in a research note on Thursday, November 13th. Sanford C. Bernstein initiated coverage on Sysco in a research note on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price objective for the company. Finally, Truist Financial lifted their price target on Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the completion of the transaction, the executive vice president owned 41,837 shares in the company, valued at approximately $3,388,797. This represents a 14.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

Sysco Trading Up 1.1%

Shares of NYSE:SYY opened at $75.96 on Wednesday. The business has a 50-day moving average price of $78.58 and a 200-day moving average price of $77.34. The stock has a market cap of $36.37 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 2.19 and a beta of 0.79. Sysco Corporation has a 52-week low of $67.12 and a 52-week high of $83.47. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 5.54.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The business had revenue of $21.15 billion during the quarter, compared to analysts’ expectations of $21.03 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Equities analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 2nd will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

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.