Linscomb Wealth Inc. Sells 2,323 Shares of Sysco Corporation $SYY

Linscomb Wealth Inc. reduced its stake in shares of Sysco Corporation (NYSE:SYY) by 44.7% in the second quarter, HoldingsChannel.com reports. The firm owned 2,872 shares of the company’s stock after selling 2,323 shares during the period. Linscomb Wealth Inc.’s holdings in Sysco were worth $218,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH grew its holdings in shares of Sysco by 106.4% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 3,147 shares of the company’s stock valued at $236,000 after acquiring an additional 1,622 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of Sysco by 9.2% in the second quarter. Gradient Investments LLC now owns 189,169 shares of the company’s stock valued at $14,328,000 after acquiring an additional 15,906 shares in the last quarter. Beacon Financial Group grew its holdings in shares of Sysco by 55.5% in the second quarter. Beacon Financial Group now owns 9,955 shares of the company’s stock valued at $754,000 after acquiring an additional 3,554 shares in the last quarter. Shell Asset Management Co. grew its holdings in shares of Sysco by 31.6% in the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock valued at $1,456,000 after acquiring an additional 4,620 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in shares of Sysco by 5.8% in the second quarter. KLP Kapitalforvaltning AS now owns 448,600 shares of the company’s stock valued at $33,977,000 after acquiring an additional 24,500 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

Shares of NYSE SYY opened at $74.35 on Friday. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.47. The firm has a market cap of $35.58 billion, a P/E ratio of 19.93, a PEG ratio of 2.19 and a beta of 0.82. The company has a 50 day moving average of $80.08 and a 200 day moving average of $77.04. 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 announced its earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share for the quarter, beating 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 business had revenue of $21.15 billion during the quarter, compared to analyst estimates of $21.03 billion. During the same period in the previous year, the business earned $1.09 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, research analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 3rd were issued 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 dividend payout ratio is 57.91%.

Analyst Ratings Changes

SYY has been the subject of several research reports. Truist Financial increased their price objective on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. UBS Group set a $90.00 price objective on Sysco in a research report on Wednesday, July 30th. Guggenheim raised their price target on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Finally, Sanford C. Bernstein initiated coverage on Sysco in a research report on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price target on the stock. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.31.

Insider Activity at Sysco

In other news, EVP Ronald L. Phillips sold 7,351 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the sale, the executive vice president directly owned 41,837 shares in the company, valued at approximately $3,388,797. This represents a 14.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 14,732 shares of company stock worth $1,193,245. 0.56% of the stock is owned by corporate insiders.

Sysco 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.