ProShare Advisors LLC Cuts Holdings in Sysco Corporation $SYY

ProShare Advisors LLC trimmed its position in Sysco Corporation (NYSE:SYY) by 3.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,255,017 shares of the company’s stock after selling 90,514 shares during the quarter. ProShare Advisors LLC’s holdings in Sysco were worth $170,795,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Facet Wealth Inc. increased its stake in Sysco by 1.2% in the 2nd quarter. Facet Wealth Inc. now owns 10,671 shares of the company’s stock worth $849,000 after acquiring an additional 131 shares during the last quarter. Ellis Investment Partners LLC grew its holdings in shares of Sysco by 4.9% in the second quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock valued at $214,000 after purchasing an additional 133 shares in the last quarter. Stephens Inc. AR increased its position in Sysco by 0.6% in the second quarter. Stephens Inc. AR now owns 25,040 shares of the company’s stock worth $1,897,000 after purchasing an additional 140 shares during the last quarter. Trust Co of the South increased its position in Sysco by 3.0% in the second quarter. Trust Co of the South now owns 4,849 shares of the company’s stock worth $367,000 after purchasing an additional 142 shares during the last quarter. Finally, NorthRock Partners LLC raised its stake in Sysco by 2.2% during the second quarter. NorthRock Partners LLC now owns 6,514 shares of the company’s stock valued at $493,000 after purchasing an additional 142 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Shares of Sysco stock opened at $75.22 on Monday. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 5.54. The stock’s fifty day moving average is $79.44 and its two-hundred day moving average is $77.13. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.47. The company has a market capitalization of $36.02 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 2.19 and a beta of 0.79.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Sysco had a net margin of 2.21% and a return on equity of 112.04%. The firm had revenue of $21.15 billion for the quarter, compared to analysts’ expectations of $21.03 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The business’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. As a group, analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 3rd were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, October 3rd. Sysco’s payout ratio is currently 57.91%.

Insider Activity

In related news, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $81.00, for a total value of $77,841.00. Following the transaction, the executive vice president owned 41,501 shares of the company’s stock, valued at $3,361,581. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 14,598 shares of company stock valued at $1,182,438 in the last ninety days. 0.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYY. Barclays boosted their target price on shares of Sysco from $82.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. 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 on the stock. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Bank of America lifted their target price on Sysco from $81.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Finally, Citigroup decreased their price target on Sysco from $86.00 to $82.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.00.

About Sysco

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.