Fifth Third Bancorp Grows Stock Position in Sysco Corporation $SYY

Fifth Third Bancorp boosted its position in shares of Sysco Corporation (NYSE:SYY) by 71.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 330,577 shares of the company’s stock after purchasing an additional 137,979 shares during the period. Fifth Third Bancorp’s holdings in Sysco were worth $23,580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYY. Montag A & Associates Inc. grew its stake in shares of Sysco by 1.4% during the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock valued at $644,000 after acquiring an additional 123 shares in the last quarter. United Community Bank lifted its stake in shares of Sysco by 11.4% in the fourth quarter. United Community Bank now owns 1,224 shares of the company’s stock worth $90,000 after acquiring an additional 125 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Sysco by 1.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock valued at $827,000 after purchasing an additional 138 shares during the last quarter. Octavia Wealth Advisors LLC grew its stake in Sysco by 4.6% during the 4th quarter. Octavia Wealth Advisors LLC now owns 3,231 shares of the company’s stock valued at $237,000 after purchasing an additional 141 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its stake in Sysco by 1.6% during the 4th quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock valued at $698,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In other news, Director John M. Hinshaw acquired 13,304 shares of the company’s stock in a transaction dated 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 approximately $3,021,834. This represents a 49.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SYY has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of Sysco from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Piper Sandler reduced their price objective on shares of Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Barclays dropped their target price on shares of Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. UBS Group cut their target price on shares of Sysco from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Finally, Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Nine 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 stock. According to data from MarketBeat, Sysco presently has a consensus rating of “Hold” and a consensus price target of $88.15.

Sysco Trading Down 0.4%

NYSE:SYY opened at $83.46 on Tuesday. The firm has a market capitalization of $39.91 billion, a P/E ratio of 23.12, a P/E/G ratio of 3.17 and a beta of 0.64. The business has a 50 day simple moving average of $77.91 and a 200 day simple moving average of $79.28. 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 12-month low of $68.19 and a 12-month high of $91.85.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $20.56 billion. During the same period last year, the business earned $0.96 EPS. The firm’s 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 research analysts predict that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.6%. This is a positive change from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. Sysco’s payout ratio is currently 60.94%.

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.