Sysco Corporation $SYY Holdings Decreased by New England Research & Management Inc.

New England Research & Management Inc. lessened its position in shares of Sysco Corporation (NYSE:SYY) by 23.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,604 shares of the company’s stock after selling 7,350 shares during the period. New England Research & Management Inc.’s holdings in Sysco were worth $1,918,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. United Capital Financial Advisors LLC bought a new position in shares of Sysco in the second quarter valued at approximately $2,633,000. Rakuten Investment Management Inc. purchased a new position in shares of Sysco during the second quarter valued at approximately $6,523,000. Empowered Funds LLC purchased a new position in shares of Sysco during the second quarter valued at approximately $9,370,000. Banque Cantonale Vaudoise boosted its position in shares of Sysco by 301.9% during the first quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock valued at $1,200,000 after buying an additional 12,641 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Sysco during the second quarter worth $482,589,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

SYY traded up $0.08 during trading on Friday, hitting $82.23. 2,536,147 shares of the company traded hands, compared to its average volume of 4,100,611. The firm has a market cap of $40.45 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64. The stock’s fifty day moving average is $80.64 and its 200 day moving average is $78.89. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.55 per share. 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 presently 60.11%.

Insider Activity at Sysco

In related news, EVP Ronald Phillips sold 960 shares of Sysco stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $83.00, for a total value of $79,680.00. Following the sale, the executive vice president owned 49,852 shares of the company’s stock, valued at approximately $4,137,716. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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. Over the last quarter, insiders have sold 15,525 shares of company stock valued at $1,299,736. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup increased their price target on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price objective on shares of Sysco in a report on Wednesday, September 16th. Morgan Stanley lifted their price objective on shares of Sysco from $88.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday. Weiss Ratings upgraded shares of Sysco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Sysco from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.42.

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.