Sysco Corporation $SYY Shares Sold by Benin Management CORP

Benin Management CORP trimmed its position in shares of Sysco Corporation (NYSE:SYY) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,463 shares of the company’s stock after selling 1,000 shares during the quarter. Benin Management CORP’s holdings in Sysco were worth $1,853,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC acquired a new position in Sysco during the second quarter worth about $30,000. Golden State Wealth Management LLC grew its position in Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Sysco during the first quarter worth about $33,000. Cheviot Value Management LLC acquired a new position in Sysco during the first quarter worth about $34,000. Finally, 1248 Management LLC acquired a new position in Sysco during the first quarter worth about $35,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY opened at $79.14 on Wednesday. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The company has a market capitalization of $37.87 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.47 and a beta of 0.82. The company’s 50 day simple moving average is $80.70 and its 200 day simple moving average is $76.64. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $83.47.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion for the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 3rd will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.7%. Sysco’s dividend payout ratio is presently 57.91%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SYY shares. Sanford C. Bernstein set a $83.00 target price on shares of Sysco and gave the stock a “market perform” rating in a research report on Wednesday. Truist Financial increased their price target on shares of Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Morgan Stanley set a $88.00 price target on shares of Sysco in a research report on Tuesday. UBS Group set a $90.00 price target on shares of Sysco in a research report on Wednesday, July 30th. Finally, Barclays increased their price target on shares of Sysco from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Nine investment 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Insider Activity

In related news, EVP Ronald L. Phillips sold 7,351 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the transaction, the executive vice president owned 41,837 shares of the company’s stock, valued at approximately $3,388,797. This represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 14,732 shares of company stock worth $1,193,245 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

Sysco Company 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.