Sysco Corporation $SYY Shares Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC cut its stake in Sysco Corporation (NYSE:SYY) by 79.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 6,151 shares of the company’s stock after selling 24,250 shares during the quarter. Curated Wealth Partners LLC’s holdings in Sysco were worth $480,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Sysco during the second quarter valued at approximately $3,596,356,000. Bank of America Corp DE acquired a new stake in shares of Sysco in the second quarter valued at about $482,589,000. Primecap Management Co. CA acquired a new position in shares of Sysco during the 2nd quarter worth about $313,503,000. Bank of New York Mellon Corp bought a new position in shares of Sysco during the 2nd quarter worth approximately $273,323,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Sysco during the 2nd quarter worth about $203,861,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Up 0.1%

Shares of NYSE SYY opened at $82.23 on Friday. The business has a 50-day moving average of $80.64 and a 200-day moving average of $78.89. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 4.62. The firm has a market capitalization of $40.45 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 2.87 and a beta of 0.64. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Sell-side analysts expect that Sysco Corporation will post 5.10 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be issued a $0.55 dividend. The ex-dividend date is Friday, October 2nd. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. Sysco’s dividend payout ratio (DPR) is currently 60.11%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SYY shares. Citigroup increased their price target on Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings raised Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Melius Research downgraded Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. UBS Group boosted their price target on shares of Sysco from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Guggenheim reaffirmed a “buy” rating and set a $90.00 price objective on shares of Sysco in a report on Wednesday, September 16th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.42.

Insider Activity

In other news, EVP Ronald Phillips sold 7,350 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the completion of the transaction, the executive vice president directly owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. This represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 15,525 shares of company stock valued at $1,299,736 in the last 90 days. 0.55% of the stock is currently owned by insiders.

About Sysco

Sysco Corporation is a global foodservice distributor headquartered in Houston, Texas. The company supplies restaurants, hotels, healthcare facilities, educational institutions, government organizations and other foodservice customers with a broad range of products and related services.

Sysco’s offerings include fresh and frozen foods, meat and seafood, dairy products, produce, canned and dry goods, beverages, specialty and international foods, and prepared and ready-to-use items. The company also distributes nonfood products such as kitchen equipment, tableware, cleaning supplies and other operating supplies.