Truist Financial Corp Sells 50,193 Shares of Sysco Corporation $SYY

Truist Financial Corp lowered its stake in Sysco Corporation (NYSE:SYY) by 17.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,560 shares of the company’s stock after selling 50,193 shares during the period. Truist Financial Corp’s holdings in Sysco were worth $18,984,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Sysco by 2.0% during the second quarter. Vanguard Group Inc. now owns 62,691,177 shares of the company’s stock worth $4,748,230,000 after purchasing an additional 1,226,381 shares during the last quarter. Geode Capital Management LLC boosted its position in Sysco by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 12,551,872 shares of the company’s stock worth $946,694,000 after buying an additional 183,179 shares during the period. Norges Bank bought a new stake in Sysco during the 2nd quarter worth approximately $493,686,000. Charles Schwab Investment Management Inc. raised its stake in shares of Sysco by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,131,931 shares of the company’s stock valued at $237,212,000 after acquiring an additional 27,693 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Sysco by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 2,639,931 shares of the company’s stock valued at $201,076,000 after acquiring an additional 283,706 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sysco in a report on Wednesday. Guggenheim lifted their price objective on Sysco from $89.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup upped their target price on Sysco from $81.00 to $88.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Sysco from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a research note on Monday, December 29th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.38.

Insider Activity

In related news, EVP Ronald L. Phillips sold 5,601 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $81.00, for a total value of $453,681.00. Following the transaction, the executive vice president directly owned 35,965 shares of the company’s stock, valued at approximately $2,913,165. The trade was a 13.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Sysco Stock Performance

Shares of SYY stock opened at $83.85 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 5.45. The firm has a fifty day simple moving average of $75.61 and a two-hundred day simple moving average of $77.90. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $85.33. The firm has a market capitalization of $40.16 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.67 and a beta of 0.61.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $20.76 billion during the quarter, compared to the consensus estimate of $20.80 billion. Sysco had a return on equity of 109.21% and a net margin of 2.17%.The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. Analysts forecast 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, January 23rd. Shareholders of record on Friday, January 2nd were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, January 2nd. Sysco’s dividend payout ratio is 58.06%.

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.