Vest Financial LLC Sells 52,540 Shares of Sysco Corporation $SYY

Vest Financial LLC trimmed its holdings in shares of Sysco Corporation (NYSE:SYY) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 596,723 shares of the company’s stock after selling 52,540 shares during the period. Vest Financial LLC owned 0.12% of Sysco worth $46,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC acquired a new stake in Sysco during the 2nd quarter valued at $29,000. Sunbelt Securities Inc. boosted its position in Sysco by 87.6% in the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock valued at $26,000 after buying an additional 170 shares during the last quarter. Markowski Investments purchased a new position in Sysco in the 2nd quarter valued at about $31,000. Parvin Asset Management LLC purchased a new position in Sysco in the 2nd quarter valued at about $32,000. Finally, Tacita Capital Inc acquired a new stake in shares of Sysco during the second quarter valued at about $35,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Guggenheim restated a “buy” rating and set a $90.00 price objective on shares of Sysco in a report on Wednesday, September 16th. Wall Street Zen raised Sysco from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Morgan Stanley raised their target price on Sysco from $88.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. cut their target price on Sysco from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 29th. Finally, Citigroup lifted their target price on Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.42.

Insider Buying and Selling

In other news, EVP Ronald Phillips sold 7,350 shares of the stock in a transaction on Friday, August 21st. The shares were 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. This represents a 15.98% decrease in their position. The sale 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. Insiders sold a total of 15,525 shares of company stock valued at $1,299,736 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Sysco Stock Performance

SYY opened at $82.00 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The firm has a market cap of $40.34 billion, a PE ratio of 22.41, a P/E/G ratio of 2.84 and a beta of 0.64. The business has a fifty day simple moving average of $80.52 and a 200-day simple moving average of $79.18. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $22.12 billion during the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $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 company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors 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 dividend on an annualized basis and a yield of 2.7%. Sysco’s dividend payout ratio is currently 60.11%.

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.