Sysco Corporation $SYY Stock: Vest Financial LLC Reduces Stake

Vest Financial LLC trimmed its position in shares of Sysco Corporation (NYSE:SYY) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 596,723 shares of the company’s stock after selling 52,540 shares during the period. Vest Financial LLC’s holdings in Sysco were worth $46,521,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Sysco in the second quarter valued at $3,596,356,000. Bank of America Corp DE bought a new position in Sysco in the second quarter worth $482,589,000. Dimensional Fund Advisors LP lifted its position in Sysco by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,667,412 shares of the company’s stock worth $332,871,000 after purchasing an additional 59,685 shares during the period. Primecap Management Co. CA acquired a new stake in Sysco during the second quarter worth $313,503,000. Finally, Bank of New York Mellon Corp acquired a new stake in Sysco during the second quarter worth $273,323,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ronald Phillips sold 7,350 shares of Sysco stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $83.61, for a total transaction of $614,533.50. Following the transaction, the executive vice president owned 38,650 shares in the company, valued at $3,231,526.50. The trade was a 15.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 sold 15,525 shares of company stock worth $1,299,736 in the last 90 days. Insiders own 0.55% of the company’s stock.

Sysco Stock Down 1.1%

NYSE:SYY opened at $82.00 on Thursday. The stock’s fifty day moving average price is $80.52 and its two-hundred day moving average price is $79.18. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The company has a market cap of $40.34 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 2.84 and a beta of 0.64.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 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 analysts’ expectations of $21.95 billion. During the same quarter in the previous year, the company earned $1.48 EPS. Sysco’s revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, analysts anticipate that Sysco Corporation will post 5.10 EPS for the current year.

Sysco Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Guggenheim restated a “buy” rating and issued a $90.00 price objective on shares of Sysco in a research note on Wednesday, September 16th. Citigroup lifted their target price on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 15th. Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley increased their price target on shares of Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.42.

About Sysco

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.