Welch & Forbes LLC Sells 3,255 Shares of Sysco Corporation $SYY

Welch & Forbes LLC trimmed its holdings in shares of Sysco Corporation (NYSE:SYY) by 4.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,343 shares of the company’s stock after selling 3,255 shares during the quarter. Welch & Forbes LLC’s holdings in Sysco were worth $5,176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SYY. Facet Wealth Inc. raised its stake in shares of Sysco by 1.2% during the 2nd quarter. Facet Wealth Inc. now owns 10,671 shares of the company’s stock worth $849,000 after purchasing an additional 131 shares during the period. Ellis Investment Partners LLC increased its holdings in Sysco by 4.9% during the second quarter. Ellis Investment Partners LLC now owns 2,820 shares of the company’s stock worth $214,000 after buying an additional 133 shares during the last quarter. Stephens Inc. AR raised its position in Sysco by 0.6% in the second quarter. Stephens Inc. AR now owns 25,040 shares of the company’s stock worth $1,897,000 after acquiring an additional 140 shares during the period. Trust Co of the South boosted its stake in Sysco by 3.0% in the second quarter. Trust Co of the South now owns 4,849 shares of the company’s stock valued at $367,000 after acquiring an additional 142 shares during the last quarter. Finally, NorthRock Partners LLC grew its position in shares of Sysco by 2.2% during the 2nd quarter. NorthRock Partners LLC now owns 6,514 shares of the company’s stock valued at $493,000 after acquiring an additional 142 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Sysco from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Guggenheim raised their target price on Sysco from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Morgan Stanley set a $88.00 price target on Sysco in a research report on Tuesday, October 21st. Wells Fargo & Company set a $88.00 price objective on Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.31.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 961 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $81.00, for a total value of $77,841.00. Following the sale, the executive vice president directly owned 41,501 shares in the company, valued at $3,361,581. This represents a 2.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 14,732 shares of company stock valued at $1,193,245. Corporate insiders own 0.56% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY opened at $74.35 on Monday. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.70 and a current ratio of 1.15. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47. The stock has a market cap of $35.60 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The stock has a fifty day moving average of $80.08 and a 200-day moving average of $77.08.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 28th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. Sysco had a return on equity of 112.04% and a net margin of 2.21%.The business had revenue of $21.15 billion during the quarter, compared to the consensus estimate of $21.03 billion. During the same quarter last year, the company earned $1.09 EPS. The firm’s 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. Equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 3rd were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, October 3rd. Sysco’s dividend payout ratio is 57.91%.

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.