Sysco Corporation $SYY Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC trimmed its stake in shares of Sysco Corporation (NYSE:SYY) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,287 shares of the company’s stock after selling 8,823 shares during the quarter. Welch & Forbes LLC’s holdings in Sysco were worth $4,221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Sysco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock worth $4,591,281,000 after purchasing an additional 814,270 shares during the period. State Street Corp raised its position in shares of Sysco by 0.9% during the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after purchasing an additional 246,542 shares during the period. Capital Research Global Investors raised its position in shares of Sysco by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock worth $1,511,821,000 after purchasing an additional 46,040 shares during the period. Geode Capital Management LLC raised its position in shares of Sysco by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock worth $934,391,000 after purchasing an additional 131,659 shares during the period. Finally, Norges Bank acquired a new stake in shares of Sysco during the 4th quarter worth approximately $542,780,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In other Sysco news, Director John M. Hinshaw acquired 13,304 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the acquisition, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. This represents a 49.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 30th. Sanford C. Bernstein dropped their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Wells Fargo & Company increased their price target on Sysco from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft cut Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Tuesday, April 28th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $88.15.

Sysco Stock Performance

Shares of SYY stock opened at $75.98 on Monday. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. The firm has a market capitalization of $36.33 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 3.10 and a beta of 0.65. The business has a 50 day simple moving average of $75.17 and a 200 day simple moving average of $78.13. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Sysco had a return on equity of 103.57% and a net margin of 2.08%.The business had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.56 billion. During the same period last year, the company earned $0.96 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, equities research analysts anticipate that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be issued a $0.55 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.9%. Sysco’s dividend payout ratio is currently 59.83%.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.