Sysco Corporation $SYY Stock Sold by Professional Advisory Services Inc.

Professional Advisory Services Inc. cut its holdings in shares of Sysco Corporation (NYSE:SYY) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 289,876 shares of the company’s stock after selling 9,181 shares during the period. Sysco accounts for 2.6% of Professional Advisory Services Inc.’s portfolio, making the stock its 20th biggest position. Professional Advisory Services Inc. owned approximately 0.06% of Sysco worth $22,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYY. United Capital Financial Advisors LLC purchased a new stake in shares of Sysco in the 2nd quarter worth about $2,633,000. Rakuten Investment Management Inc. purchased a new stake in Sysco in the second quarter worth about $6,523,000. Empowered Funds LLC purchased a new stake in Sysco in the second quarter worth about $9,370,000. Banque Cantonale Vaudoise grew its holdings in shares of Sysco by 301.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 16,828 shares of the company’s stock worth $1,200,000 after acquiring an additional 12,641 shares during the period. Finally, First Nebraska Trust Co bought a new position in shares of Sysco in the 2nd quarter worth approximately $183,604,000. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In other Sysco news, EVP Ronald Phillips sold 960 shares of Sysco stock in a transaction on Friday, September 11th. The stock was sold at an average price of $83.00, for a total value of $79,680.00. Following the completion of the sale, the executive vice president owned 49,852 shares of the company’s stock, valued at approximately $4,137,716. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. In the last quarter, insiders sold 15,525 shares of company stock worth $1,299,736. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of several recent research reports. Piper Sandler upped their price target on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Citigroup boosted their target price on shares of Sysco from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Melius Research lowered shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Morgan Stanley lifted their price target on shares of Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Sysco from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.17.

Sysco Stock Up 1.7%

Shares of NYSE SYY traded up $1.34 during trading on Thursday, reaching $78.13. The company had a trading volume of 4,808,466 shares, compared to its average volume of 4,107,758. The stock has a market cap of $38.43 billion, a PE ratio of 21.35, a P/E/G ratio of 2.70 and a beta of 0.64. The business’s 50-day moving average is $81.14 and its 200 day moving average is $78.95. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85. 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 (NYSE:SYY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business 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%. Sysco’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. 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 forecast that Sysco Corporation will post 5.1 earnings per share for the current fiscal 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 paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is currently 60.11%.

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.