Bank of New York Mellon Corp Sells 1,284,739 Shares of Sysco Corporation $SYY

Bank of New York Mellon Corp lessened its holdings in Sysco Corporation (NYSE:SYY) by 27.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,384,556 shares of the company’s stock after selling 1,284,739 shares during the quarter. Bank of New York Mellon Corp’s holdings in Sysco were worth $241,420,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas lifted its position in shares of Sysco by 8.0% during the 4th quarter. Teacher Retirement System of Texas now owns 370,571 shares of the company’s stock valued at $27,307,000 after buying an additional 27,510 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Sysco by 9.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,423 shares of the company’s stock worth $30,445,000 after acquiring an additional 35,647 shares in the last quarter. Nicholas Company Inc. purchased a new position in shares of Sysco during the fourth quarter worth about $2,278,000. Nordea Investment Management AB lifted its stake in shares of Sysco by 38.8% in the 4th quarter. Nordea Investment Management AB now owns 1,952,615 shares of the company’s stock worth $144,552,000 after acquiring an additional 545,688 shares during the period. Finally, Norges Bank acquired a new stake in Sysco in the fourth quarter valued at $542,780,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sysco

In related news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the transaction, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This represents a 49.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.56% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $81.62 on Friday. The company has a market cap of $39.03 billion, a PE ratio of 22.61, a PEG ratio of 3.13 and a beta of 0.64. The company’s 50-day moving average is $78.63 and its two-hundred day moving average is $79.45. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The business had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.56 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The firm’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. Equities analysts anticipate that Sysco Corporation will post 4.59 earnings per share for the current year.

Analysts Set New Price Targets

SYY has been the topic of several analyst reports. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Barclays cut their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Tuesday, April 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a report on Friday, June 26th. Finally, Citigroup increased their price objective on Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Eight equities 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. According to MarketBeat.com, Sysco presently has a consensus rating of “Hold” and a consensus target price of $88.00.

About Sysco

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.