Sysco Corporation $SYY Stock Position Trimmed by State of Michigan Retirement System

State of Michigan Retirement System cut its position in Sysco Corporation (NYSE:SYY) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 131,817 shares of the company’s stock after selling 900 shares during the quarter. State of Michigan Retirement System’s holdings in Sysco were worth $9,984,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Facet Wealth Inc. lifted its position in Sysco by 1.2% in the 2nd quarter. Facet Wealth Inc. now owns 10,671 shares of the company’s stock valued at $849,000 after purchasing an additional 131 shares during the last quarter. Ellis Investment Partners LLC lifted its position in Sysco by 4.9% in the 2nd 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 during the last quarter. Stephens Inc. AR lifted its position in Sysco by 0.6% in the 2nd quarter. Stephens Inc. AR now owns 25,040 shares of the company’s stock valued at $1,897,000 after purchasing an additional 140 shares during the last quarter. Trust Co of the South lifted its position in Sysco by 3.0% in the 2nd quarter. Trust Co of the South now owns 4,849 shares of the company’s stock valued at $367,000 after purchasing an additional 142 shares during the last quarter. Finally, NorthRock Partners LLC lifted its position in Sysco by 2.2% in the 2nd quarter. NorthRock Partners LLC now owns 6,514 shares of the company’s stock valued at $493,000 after purchasing an additional 142 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. UBS Group set a $90.00 price target on shares of Sysco in a research report on Wednesday, July 30th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Guggenheim boosted their price target on shares of Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, Citigroup dropped their price target on shares of Sysco from $86.00 to $82.00 and set a “neutral” rating on the stock in a research report on Monday. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Sysco Stock Performance

Shares of SYY opened at $72.84 on Tuesday. The firm’s 50 day moving average is $79.95 and its 200-day moving average is $77.09. The stock has a market capitalization of $34.88 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.19 and a beta of 0.82. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.15 and a quick ratio of 0.70. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $83.47.

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

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 3rd were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.16 annualized dividend and a dividend yield of 3.0%. Sysco’s payout ratio is currently 57.91%.

Insider Activity

In other news, EVP Ronald L. Phillips sold 7,351 shares of Sysco stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total value of $595,431.00. Following the transaction, the executive vice president 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 document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 14,732 shares of company stock valued at $1,193,245. Insiders own 0.56% of the company’s stock.

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.