State Board of Administration of Florida Retirement System Has $36.74 Million Position in Sysco Corporation $SYY

State Board of Administration of Florida Retirement System cut its holdings in Sysco Corporation (NYSE:SYY) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 485,088 shares of the company’s stock after selling 6,604 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Sysco were worth $36,741,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Assetmark Inc. boosted its holdings in Sysco by 34.3% in the first quarter. Assetmark Inc. now owns 2,292 shares of the company’s stock worth $172,000 after purchasing an additional 586 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of Sysco by 19.6% in the first quarter. Arkadios Wealth Advisors now owns 5,599 shares of the company’s stock worth $420,000 after buying an additional 919 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Sysco during the 1st quarter worth about $319,000. ProVise Management Group LLC bought a new stake in shares of Sysco during the 1st quarter worth about $331,000. Finally, R Squared Ltd acquired a new position in shares of Sysco during the 1st quarter valued at about $374,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 7,351 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total value of $595,431.00. Following the transaction, the executive vice president directly owned 41,837 shares of the company’s stock, valued at $3,388,797. The trade was a 14.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup reduced their target price on Sysco from $86.00 to $82.00 and set a “neutral” rating for the company in a report on Monday, November 3rd. Wall Street Zen cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Morgan Stanley set a $88.00 price objective on shares of Sysco in a report on Tuesday, October 21st. Guggenheim lifted their target price on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Barclays boosted their target price on shares of Sysco from $82.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Sysco Stock Performance

NYSE:SYY opened at $76.20 on Friday. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47. The firm has a market capitalization of $36.49 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.19 and a beta of 0.79. The firm has a 50-day moving average price of $77.69 and a 200 day moving average price of $77.57. 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 posted its earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, topping 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 the consensus estimate of $21.03 billion. During the same quarter last year, the company earned $1.09 EPS. Sysco’s revenue was up 3.2% on a year-over-year basis. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd will be paid a $0.54 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.8%. Sysco’s payout ratio is 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.