Arizona State Retirement System Sells 11,599 Shares of Sysco Corporation $SYY

Arizona State Retirement System cut its stake in Sysco Corporation (NYSE:SYY) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,394 shares of the company’s stock after selling 11,599 shares during the period. Arizona State Retirement System’s holdings in Sysco were worth $9,682,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in shares of Sysco by 3,977.1% during the third quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock valued at $387,935,000 after buying an additional 4,595,819 shares during the last quarter. Mondrian Investment Partners LTD purchased a new stake in shares of Sysco during the third quarter valued at about $142,237,000. Marshall Wace LLP lifted its position in shares of Sysco by 102.6% during the third quarter. Marshall Wace LLP now owns 2,359,471 shares of the company’s stock valued at $194,279,000 after buying an additional 1,194,815 shares during the last quarter. Scopus Asset Management L.P. purchased a new stake in shares of Sysco during the third quarter valued at about $87,075,000. Finally, Sunriver Management LLC purchased a new stake in shares of Sysco during the third quarter valued at about $45,809,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on SYY shares. Weiss Ratings lowered shares of Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 30th. UBS Group decreased their price target on shares of Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. BMO Capital Markets reissued an “outperform” rating on shares of Sysco in a research report on Wednesday, January 28th. Barclays increased their price target on shares of Sysco from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Finally, Morgan Stanley decreased their price target on shares of Sysco from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.85.

Insider Buying and Selling

In other news, Director Sheila Talton sold 2,801 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $82.99, for a total transaction of $232,454.99. Following the sale, the director owned 12,868 shares of the company’s stock, valued at $1,067,915.32. This trade represents a 17.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ronald L. Phillips sold 5,601 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $81.00, for a total transaction of $453,681.00. Following the sale, the executive vice president directly owned 35,965 shares in the company, valued at $2,913,165. The trade was a 13.47% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.56% of the company’s stock.

Sysco Stock Performance

SYY opened at $76.59 on Friday. Sysco Corporation has a 12-month low of $68.00 and a 12-month high of $91.85. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45. The firm has a market capitalization of $36.68 billion, a PE ratio of 20.59, a P/E/G ratio of 2.74 and a beta of 0.69. The firm has a 50 day moving average of $81.19 and a two-hundred day moving average of $78.53.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The company had revenue of $20.76 billion during the quarter, compared to analyst estimates of $20.80 billion. During the same period last year, the firm posted $0.93 EPS. Sysco’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.600-4.600 EPS. On average, analysts anticipate that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.9%. This is a boost from Sysco’s previous quarterly dividend of $0.54. Sysco’s payout ratio is 59.14%.

Sysco 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.